MPs in the UK are calling on legislation to protect victims of practices like authorised push payment fraud.
In Brief:
They want the Government to introduce mandatory reimbursement for fraud victims.
A report by the Treasury Select Committee says there is a “growing fraud epidemic”.
It asks the Government to legislate on fraudulent adverts that are appearing online.
What does this mean?
The report makes many recommendations but fraudulent adverts and APP fraud are two key issues. In terms of APP fraud, the MPs recommend the responsibility should be put on banks to reimburse victims.
