The 2024 Scamscope Report: The Battle for Trust, published by ACI Worldwide and GlobalData, reveals a sharp global rise in Authorised Push Payment (APP) scams, with projected losses growing from $4.38 billion in 2023 to $7.63 billion by 2028. Real-time payments now account for most APP fraud losses, expected to climb from 63% to 80% over the same period. The report highlights how fraudsters use AI to scale attacks and bypass traditional banking controls, creating a trust crisis across six key markets: the US, UK, Australia, India, Brazil, and the UAE.
Regulatory pressure is mounting, with some regions like the UK enforcing mandatory reimbursement policies while others struggle with fragmented frameworks. The report stresses the urgent need for AI-powered fraud detection, real-time intelligence sharing, and greater institutional collaboration to mitigate losses and rebuild consumer confidence.