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PSR publishes research on APP fraud impact and highlights new reimbursement rules

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Published on: 21 November 2024

Published by LNB News

LNB News 21/11/2024

Document Information

Issue Date: 21 November 2024

Published Date: 21 November 2024

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

Article summary

The Payment Systems Regulator (PSR) has published research revealing the emotional and financial toll of authorised push payment (APP) fraud on UK consumers. The PSR has taken several actions to combat fraud, including mandatory reimbursement requirements for payment firms, increased transparency through data sharing, and promoting the widespread rollout of anti-fraud tools like Confirmation of Payee, now covering over 99% of UK payments.

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