Form3 sponsors Payments Association Working Group to tackle UK digital and financial crime

Source: Form3

Form3, the cloud-native account-to-account platform, today announces that it is sponsoring the Payment Associations Project Financial Crime Working Group this year, to address the challenges of tackling increasing levels of digital and financial crime in the UK.

As benefactors of the project, Form3 will lead on industry collaboration among financial institutions to develop strategies to enable banks to deal with the ever-increasing threat of financial crime. This activity is timely, as UK-based customers lost 583 million to authorised push payment (APP) scams in 2021, up by 39% on 2020.