MIAMI & LONDON & MUMBAI, India–(BUSINESS WIRE)–Authorized Push Payment (APP) fraud losses are on the rise and expected to climb to $5.25 billion across the U.S., U.K. and India by 2026 — a record CAGR of 21% — according to Scamscope, a new report by global payments software company ACI Worldwide and GlobalData, a leading global analytics firm.
APP fraud scams involve fraudsters tricking their victims into willingly making large bank transfers to them – in many cases, this happens via social engineering across social media networks or via telephone. The growth of real-time payments has given rise to this new type of fraud, which in many markets is growing at a much faster rate than card fraud.*
Scamscope also sheds a light on the types of APP fraud, with product (37.8%), romance (18.4%) and investment scams (16.3%) being the most common across all three geographic markets.
On the flipside, the overall growth of real-time payments is predicted to outstrip the growth of APP fraud losses. In 2021, APP fraud losses amounted to $2.7 billion, accounting for 0.047% of the total value of real-time payments across the three markets in the study ($5.8 trillion). In 2026, they are expected to amount to $5.25 billion, accounting for 0.0025% of the total value of real-time payment transactions in 2026 ($20.7 trillion). This means that real-time revenue for financial institutions is expected to grow faster than the risk of loss and that many banks, central…
