On 27 November 2025, EU negotiators announced a political deal on the new Payment Services Regulation (PSR) and PSD3. The press releases promised a “historic step” against payment fraud, more protection from online scams and new liability rules for social media platforms. From the perspective of EFRI, and against
Europe built fast, low-cost payment rails. Victims deceived into initiating payments are still left alone. Our paper, a contribution to the ongoing discussion, sets out a solution based on the experience we made during the past years: treat fraudulently induced payments as unauthorised, make reimbursement the default at the payer’s
As digital payments surge across Britain, the UK has become Europe’s most advanced cashless society, processing more than 48 billion electronic payments in 2023 alone. But with this progress comes a sharp rise in “push payment” fraud (APP fraud), making robust consumer protection more vital than ever. The UK’s new
No surprise for us: ING has been supporting scams! On Monday Stichting Collectief Forward Gold Sale (“FGS”) filed a WAMCA -collective action – in the Amsterdam District Court against ING Bank N.V. and Bunq B.V..According to the writ of summons (registered under Article 1018c(2) Dutch Code of Civil Procedure) the
Approval of the new EU Instant Payments Regulation! On 7th February 2024, the European Parliament formally approved the new Instant Payments Regulation. Under the new regulations for instant payments (also known as real-time payments), all European payment providers are required to give their customers the option to conduct Euro-denominated credit
