Whack-a-Fraud: EU’s Crackdown Could Increase U.S. Payments Scams

The article explains that Europe’s updated Payment Services Directive (PSD2) and prior GDPR privacy rules are likely to strengthen authentication and payment security in the EU, which researchers warn may redirect fraudsters toward less-protected U.S. payment providers; it recommends that U.S. firms operating in or with the EU increase fraud detection and consider stronger consumer protections to mitigate this potential shift.