Deregulation in some areas is just a bad idea! The UK government’s drive to reduce regulatory burdens includes plans to abolish the Payment Systems Regulator (PSR), raising concerns about the future of consumer protection in the payment sector. While the PSR’s functions will transfer to the Financial Conduct Authority (FCA),
As stablecoins edge closer to mainstream adoption, their implications stretch far beyond digital asset markets. They are emerging as potential pillars of a new global payment infrastructure—prompting concerns not only about monetary sovereignty but also about legal liability and consumer protection. According to the Financial Times, stablecoins are expected to
The Trump administration’s decision to halt the activities of the US Consumer Financial Protection Bureau (CFPB) is a critical misstep with potentially far-reaching consequences for American consumers. Established in response to the 2008 financial crisis, the CFPB has been instrumental in promoting financial fairness, transparency, and accountability. Rolling back its
People keep asking us why we are so convinced that Payvision BV, a subsidiary of ING Bank NV, and a supervised Dutch payment institution is liable for millions of losses suffered by thousands of innocent fraud victims between 2013 and 2019. In addition, we are also asked why we believe
Wichtige Mitteilung an alle Betroffenen der Betrugssysteme BARAK (Wolf of Sofia) und LENHOFF: Wir – die European Funds Recovery Initiative (EFRI), ein in Wien eingetragener gemeinnütziger Verein zur Bekämpfung von Cyberkriminalität gegen Kleinanleger und Verbraucher – setzen uns seit mehreren Jahren aktiv für die Interessen von Opfern dieser Betrugssysteme ein.
Report on the Call for Evidence about The Financial Conduct Authority What is an All Party Parliamentary Group? An All Party Parliamentary Group (APPG) is an interest group that occupies a strategic and effective position within Parliament. It is cross-party, with a minimum number of parliamentarians from the Government and
Here’s something banks don’t tell victims when they request a chargeback or refund for card payments after realizing they’ve been scammed : if you transferred your funds via a credit card payment Section 75 of the UK Consumer Credit Act 1974 is applicable. Section 75 of the UK Consumer Credit
These days Wired featured a story about the massive growth rates of pig butchering scam victims on a global basis. Pig butchering scams have caused extensive financial and human damage worldwide. In 2023 alone, the FBI reported nearly $4 billion in losses (mostly with cryptocurrencies are involved), with global estimates
Today, October 7, 2024, the UK Payment Services Regulator (PSR) is set to implement new mandatory reimbursement protections for victims of Authorised Push Payment (APP) fraud. These rules aim to ensure that victims of bank transfer scams, where people are tricked into sending money to fraudsters, are reimbursed quickly and
Due to the significant rise in online fraud, particularly losses from Authorised Push Payment (APP) scams in the UK, a new mandatory reimbursement scheme for APP fraud victims will be implemented starting on October 7, 2024. This scheme introduces a legal requirement for payment service providers to refund victims for
EFRI is the abbreviation for European Funds Recovery Initiative. The legal entity behind this Initiative is a not-for-profit organisation (EFRI-Association) registered in Vienna, Austria. Here you can Read More ABOUT US.
