The May 2023 report finds that while faster payments adoption is surging worldwide, fraud is rising in parallel, with organized crime exploiting account takeover and authorized push payment scams. In Brazil, Pix surpassed credit card volume within a year, and in India, faster payments account for 31% of transactions. Most surveyed financial institutions reported increased mule activity, ATO, and APP fraud in 2022. Seventy-seven percent plan significant upgrades to fraud controls, but scam detection remains immature, with low satisfaction in current measures despite the growing threat.

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