🏴‍☠️ U.S. 🇺🇸: Federal Reserve working group proposes creating an information-sharing network on fraud

🏴‍☠️ U.S. 🇺🇸: Federal Reserve working group proposes creating an information-sharing network on fraud

The group, composed of 30 experts, was created in 2023, but so far, it has only been focused on preparing reports.

🔣 Context: According to the Federal Trade Commission, fraud losses in 2024 surpassed $12.5 billion, a 25% increase from the previous year. However, stakeholders in the U.S. payments ecosystem lack real-time access to up-to-date industry information needed to detect and prevent such incidents.

🔣 If the proposal gains industry support, a sector-wide coalition is expected to be formed to develop a collaboration plan, identify gaps in the current system, and establish operational priorities.

🔣 Members of the Federal Reserve working group emphasize that these measures should be rolled out gradually.

#news #USA #fraud

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