Authorised Push Payment (APP) fraud is now one of the most damaging and fastest-growing forms of financial crime. What makes it different is that the victim is not hacked — they’re convinced. The fraudster creates a scenario that feels genuine, often impersonating a trusted contact or institution. Emails, texts or websites are used to set the trap. Once the victim believes the request is real, they authorise the payment themselves.
The money does not go where it should. Instead, it lands in an account controlled by the fraudster, usually held by a money mule, and is moved on within minutes. By the time the error is noticed, recovery is nearly impossible. This type of fraud bypasses traditional security defences because there’s no technical breach. The payment is legitimate in form, just not in purpose.
Finseta Payment Solutions is tackling this problem at the infrastructure level. Every transaction on its network is monitored in real time, using behavioural analytics to detect irregularities even when the customer appears to be in full control. This includes sudden changes in payment patterns, unusual recipient details, or activity that doesn’t match the user’s typical behaviour.
Finseta uses strict Know Your Customer (KYC) and Know Your Business (KYB) verification to ensure that all parties involved are properly identified and validated. On top of this, Confirmation of Payee (CoP) checks confirm that the name entered matches the account it’s being sent to, a key control in preventing funds from being misdirected.
Finseta Plc (LON:FIN), formerly Cornerstone FS PLC, is a United Kingdom-based foreignexchange and payments company offering multi-currency accounts and payment solutions to businesses and individuals through its global payments network.
