Dubai, United Arab Emirates – 10 December 2024 – Authorized push payment (APP) scam losses are on the rise, expected to climb to US$7.6 billion by 2028 across six leading real-time payment markets (U.S., U.K., India, Brazil, Australia and UAE), according to the latest Scamscope report from ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, in partnership with GlobalData, a leading data and analytics company.

According to the report, the UAE saw US$8.3 million in APP scam losses and is expected to hit US$30.3 million by 2028, with a 2023-2028 compound annual growth rate (CAGR) of 29.6%.