Pay Attent!on: working together to fight payment fraud 

What is behind Pay Attent!on, and how does it differ from existing prevention activities? 

Pascal Simmen (PS): Pay Attent!on brings the key players in cashless payment services together with the police to offer the public even more effective protection against payment fraud. For the first time, preventive measures are being developed jointly and implemented in a coordinated way. Whereas previous initiatives focused on a single means of payment, we’re covering all forms of cashless payment, from debit and credit cards to e-banking and Twint. By pooling knowledge, resources and communication channels, we can reach more people and increase the impact of our prevention efforts. 

Nicky Kern (NK): Prevention is most effective when people get the same easy-to-understand messages, regardless of how they pay. Instead of lots of different information sources, Pay Attent!on acts as a single point of contact for information on payment fraud and how to combat it. It’s less confusing, easier to remember and thus more effective.

Why is now a good time pool resources within this new association? 

NK: The threat landscape is changing constantly, but prevention activities have existed in isolation up to now. The SBA’s preliminary study “Collaborative Fraud Prevention” (link) revealed a widespread need for more collaboration, not just in terms of communication. It was also clear that an initiative of this kind would have to be geared to the long term. Pay Attent!on isn’t intended to be short-lived, it aims to build a strong and trusted brand for fraud prevention in Switzerland. 

Why is preventing payment fraud so important for banks and other payment service providers? 

NK: Trust is at the heart of the payments system. People need to be able to trust that digital payment technologies are secure. Payment fraud undermines this trust and, in addition to its financial cost, creates unease. Banks and other payment service providers therefore have a shared interest in reducing fraud risks and raising awareness of the latest threats. 

How does working with the financial sector add value from the police’s perspective? 

PS: By presenting a united front, the police and the financial sector enhance our reach and credibility as well as the impact of our prevention messages. If both sides communicate the same recommendations, these are more likely to be followed on a day-to-day basis.

What scams or developments are you especially concerned about right now? 

PS: Phishing remains the biggest challenge. At the same time, we’re seeing more cases of investment fraud and falsified or manipulated QR codes. The use of artificial intelligence (AI) is also increasingly relevant. AI enables fraudsters to create highly convincing e-mails, messages, voices and even videos, making scams ever more believable and hard to spot.

Why do fraudsters still manage to outwit their victims? 

NK: Digital means of payment are actually highly secure, but payment fraud is increasingly focusing on the human factor. Victims are targeted and put under pressure or manipulated to make payments themselves. 

PS: I agree. Instead of putting a lot of effort into hacking technical systems, criminals are exploiting emotional aspects like fear, time pressure, curiosity and helpfulness. People who are under pressure don’t always question payment requests as much as they should. In short, a successful scam is usually a psychological problem rather than a technical one. It’s people that are being manipulated, not technology. 

What specific benefits does Pay Attent!on offer the population at large? 

NK: Above all, it makes things simpler. There’s now a central, trustworthy point of contact for information on payment security, no matter which payment method you use. 

PS: Specialists from the financial sector, the police and academia are working together closely within Pay Attent!on. They can analyse the latest scams together and work out easy-to-understand and practicable recommendations for specific target groups. The population thus benefits from concrete advice that can be applied day to day, reducing the risk of falling victim to payment fraud. 

The association plans to run its own prevention campaigns starting in 2027. What can we expect? 

NK: We’ll start by building a central information platform. Then we’ll reach out to the public with national awareness campaigns via various channels like posters on public transport or social media. It’s not about how many campaigns we run, it’s about making sure our messages hit home wherever actual fraud risks arise. 

What would be your ideal outcome in three years’ time? How will you be able to gauge whether Pay Attent!on is a success? 

NK: We’ll be successful if the fraud figures go down. Establishing Pay Attent!on as a trusted prevention brand will be an important first step. 

PS: We’ll be successful if people in Switzerland know what Pay Attent!on stands for and associate the label with security and prevention in digital payments. It’s not just awareness that counts, we want to change how people behave. If they can spot fraud attempts earlier and take the right action at the right time, we’ll have achieved our goal. We can measure our success through evaluations and surveys.