UK to Abolish PSR: What It Means for APP Scam Protection!

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),

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mandatory reimbursement regime

Starting Oct. 7th, 2024 UK Banks have to refund scam victims!

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

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