X9 Launches Forum to Standardize Payments Fraud Data

As U.S. payments move faster, fraud defenses remain fragmented by rail and institution. Banks, networks and corporate treasury teams often see only one part of an attack, while terms such as business email compromise, account takeover and authorized push-payment fraud are applied inconsistently. The Accredited Standards Committee X9 (ASC X9) is seeking a common data language so institutions can combine signals on accounts, identities and payment behavior — and act before funds leave rather than after losses surface.

The Payment Fraud Forum was detailed in an Aug. 26 report, with its first meeting scheduled for Sept. 10. Participants include Federal Reserve Financial Services, The Clearing House (TCH) and the U.S. Faster Payments Council. The group will develop common methods for identifying, categorizing, reporting and sharing fraud across payment types; X9’s Check Fraud Industry Forum will become a subgroup. A 2025 PYMNTS Intelligence study with Block found 68% of financial institutions raised fraud-detection budgets, while 46% reported increasingly sophisticated schemes, up from 35% a year earlier.