30 September 2022

APP fraud victims to be reimbursed

Written By FinTech Alliance

APP fraud victims to be reimbursed

Victims of authorised push payment (APP) fraud will soon be reimbursed under new rules. 

In Brief: 

Currently three quarters of APP fraud victims haven’t been reimbursed. 

They’ll be reimbursed under new proposals by the Payment Systems Regulator (PSR). 

It will be mandatory “in all but exceptional circumstances” for online and mobile payments. 

What does this mean? 

The PSR is ensuring banks reimburse customers as well as requiring that they improve the level protection for APP scam victims. 
 

Read more here. 

Up Next ...
09 December 2022

Profile Pensions acquired by Moneyfarm

Digital wealth business Moneyfarm has bought Profile Pensions. In Brief: Profile Pensions ...

09 December 2022

Walmart to offer buy now, pay later through FinTech venture

US supermarket giant Walmart is planning to offer buy now, ...

09 December 2022

Mastercard partners with Paysend for cross-border transactions

Mastercard and Paysend have announced a new partnership to improve ...

08 December 2022

Zumo hires first Chief Data & Analytics Officer

Zumo, a cryptocurrency platform based in Scotland, has hired a ...

More in Regulation

EU updates legislation on online credit

06 December 2022

The European Union is to update rules on consumer credit ...

Curve partners with Salt Edge for compliant open banking

31 October 2022

Curve, a card aggregation FinTech, has chosen Salt Edge to ...

KYP launches third party enterprise risk intelligent platform

27 September 2022

KYP, which took part in the FinTech Alliance 2022 Investment ...

Government announced fraud and money laundering crackdown

26 September 2022

The UK Government has announced plans to help crack down ...

White Papers Regulation

House of Lords: The UK-EU Relationship in Financial ServiceS

30 June 2022

The UK financial services sector is of vital importance to the UK economy as a whole, employing 2.3...

White Papers Regulation

Jumio: Anti-money laundering regulations in 2022

16 March 2022

With the increased global focus on anti-money laundering (AML) and countering the financing of terro...

Articles Regulation

The Future of Regulation 2022

24 February 2022

The fire for innovation in financial services has long been raging, and regulators, having transform...

White Papers Regulation

Regulation of Buy-Now Pay-Later

01 December 2021

Consumer credit has been regulated in the UK since the Consumer Credit Act (CCA) was passed in 1974....

There are no Events in this category