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PSR Fraud Liability Shift: Are you ready?

Published by NICE

The document explores the implications of the Payment Systems Regulator (PSR) fraud liability shift and its impact on financial institutions and payment service providers. It emphasizes the need for a holistic approach to combat Authorised Push Payment (APP) scams, leveraging advanced AI/ML models, real-time monitoring, and robust API-driven data environments. Key topics include shared liability frameworks, reimbursement policies, and enhanced customer protections. The document highlights strategies for fraud detection, predictive analytics, and streamlined case management to ensure compliance with PSR mandates while minimizing fraud-related risks and improving operational efficiency.

 

 

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Related Categories Artificial Intelligence, AI Ethics, AI Platforms, AI Integration, Finance, Fraud Detection, Risk Management, Algorithmic Trading, Financial Forecasting, Credit Scoring, Robo-Advisors, Financial Analytics, Compliance & Regulation

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