GASA’s White paper on ‘Fraud and Scams’ highlight that network-level payment data and cross-institution intelligence can dramatically improve early detection and prevention of fraud and scam

By leveraging richer payment data standards like ISO 20022, existing systems in the UK, US, EU, and the Philippines already provide insights on suspicious activity such as money mule behavior and high-risk accounts. The paper emphasizes that expanding these signals through global collaboration, privacy-enhancing technologies, and cross-border consortiums can enable financial institutions to detect and prevent…