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Fraud questions

Account takeover, OTP bots and authorized push payment scams, and the controls that stop them.

Questions #

  • How do banks stop OTP bots?

    Remove the code the bot asks for: passkeys, in-app approval on a registered device and network-based checks leave the customer nothing to read out.

    Verified · Rev. 1

  • What is an OTP bot?

    An OTP bot is an automated calling or messaging service that impersonates a bank or other service and persuades the victim to read out or type in a one-time passcode, which the criminal uses at the same moment to log in or approve a payment.

    Verified · Rev. 1

  • What is APP fraud?

    Authorized push payment (APP) fraud is a scam in which the victim is tricked into sending a payment themselves, for example to someone impersonating their bank, a supplier or a romantic partner.

    Verified · Rev. 1

  • Who pays when a UK customer falls for an APP scam?

    Since October 7, 2024, UK payment firms must reimburse most eligible victims of authorized push payment scams made over Faster Payments, up to £85,000 per claim.

    Verified · Rev. 1

Comparisons and checklists #