From 7 October 2024, UK banks must refund APP fraud victims

Today, 7 October 2024, the UK Payment Systems Regulator (PSR) implements 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 consistently by their

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to tackle Payment fraud

How the UK Plans to Tackle Payment Fraud!

As previously discussed, United Kingdom is undeniably the frontrunner in financial crime in Europe. Being one of the global headquarters for financial services comes with a high price for the British people. In 2023, according to the UK Finance Fraud Report 2024, Britons lost approximately £459.7 million to Authorised Push

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