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LSB finds shortcomings in reimbursement of APP scam victims by CRM Code signatories

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Published on: 16 June 2021

Published by LNB News

LNB News 16/06/2021

Document Information

Issue Date: 16 June 2021

Published Date: 16 June 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Lending Standards Board (LSB) has published its latest report detailing findings regarding the implementation of a provision of the Contingent Reimbursement Model (CRM) Code for authorised push payment (APP) scams, which looks at signatory firms’ approach to the reimbursement of customers. The report highlights shortcomings in firms’ response to the LSB’s thematic review of April 2020 and flags additional areas of concern.

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