PSD3 and PSR Push Banks Toward Privacy-Preserving Fraud Prevention

Summary

The article explains how PSD3 and PSR are shifting banks toward earlier fraud detection, and argues behavioral analytics can help protect customers while limiting personal-data collection and keeping risk decisions explainable.

Key points

• PSD3 and PSR are described as placing greater emphasis on fraud prevention and consumer protection, beyond secure payment authentication.
• The article argues that fraud signals can emerge before payment, including during social engineering, account takeover, or remote-access abuse.
• Behavioral analytics can assess risk across the customer journey and give banks opportunities to intervene before funds are sent.
• Fraud detection is distinguished from biometric identification; the article advocates using limited, relevant behavioral data rather than collecting more personal information.
• The author says explainable and auditable risk decisions support analyst, customer, and regulatory needs.
• ThreatFabric presents its Fraud Risk Suite as designed to avoid access to highly intrusive data such as messages, files, camera content, and microphone recordings.

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