Newer payment services — Threat assessment

Newer payment services — Threat assessment

Building on the accompanying background document, this threat assessment from NTAES analyses how newer payment services can be misused by criminal actors. The report describes the threat picture associated with mobile payments, peer-to-peer solutions, prepaid cards and other digital payment channels.

The assessment is aimed at police, supervisory authorities, financial institutions and decision-makers who need to understand where risks of misuse are highest and where preventive measures should be prioritised. It describes how limited identification, rapid transaction speed and cross-border functionality can reduce transparency and complicate investigation.

Implications

NTAES underlines the need for continuous dialogue between payment service providers and authorities, updated customer due diligence routines and targeted supervision. The report also points out that the threat picture evolves quickly as new services are introduced and established services change their functionality, which requires ongoing monitoring and reassessment.