Payment Fraud: Britain’s Bank-Refund Rule Works The first independent evaluation of the UK’s mandatory payment fraud reimbursement scheme is in and it validates the case EFRI has made for years. Forcing banks to refund scam victims cut authorised push payment (APP) fraud on the covered rails by around a fifth,
Malta’s Financial Arbiter repeatedly found that OpenPayd improperly credited payments through opaque vIBAN structures. He referred the breaches to the regulator—then denied compensation and blamed the victims’ “greed and gross negligence
The Wolfsberg Group’s new guidance on banking services for non-bank payment service providers addresses a structural weakness in the payment system: banks provide the accounts through which payment institutions collect, pool and redistribute money, while often seeing only part of the underlying payment chain. Wolfsberg does not treat this limited
AI Fraud: The Mills Review Exposes Financial Enablers The UK Financial Conduct Authority’s Mills Review on AI and the future of retail financial services should not be read merely as a technology report. For consumer protection organisations, it is a warning about the next stage of industrialised financial fraud. The
Københavns Andelskasse and Payvision: Victims Left to Chase Empty Shells Danish authorities have secured another conviction in the Københavns Andelskasse money-laundering scandal. But the case exposes a larger European failure. The victims are not only facing AML breaches. They are facing an enforcement model that confirms wrongdoing after the operating
On 25 June 2026, the Court of Appeal of England and Wales is scheduled to hear the appeal in the Hamblin & Anor v Moorwand Ltd & Anor [2025] EWHC 817 (Ch). The case deserves attention far beyond the United Kingdom. It raises a question that is central to modern
PSD2 Fraud Transaction Monitoring: The Starting Point Before analysing the proposed Payment Services Regulation, it is important to understand the current PSD2 framework. Under Article 2 of Commission Delegated Regulation (EU) 2018/389, payment service providers must have transaction monitoring mechanisms that enable them to detect unauthorised or fraudulent payment transactions.
EFRI’s Payvision Report: when payment infrastructure becomes fraud infrastructure
Today, EFRI sent a formal letter to the Ministry of Justice of North Rhine-Westphalia and to European institutions concerned with the rule of law, consumer protection and asset recovery. Here you can read the full letter (translation). We represent 62 victims from across Europe who have been waiting for more
ING’s new AML settlement and the same message ING Belgium has agreed to pay a €1.6 million criminal settlement in a money-laundering investigation linked to transactions involving Didier Reynders, the former Belgian minister and former EU Commissioner for Justice. According to reporting on the Brussels prosecutor’s announcement, the case concerned
