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
The payments landscape has undergone significant changes over the past decade. The changes have been mainly driven by fast-paced technological advancements. Digital payments in the EU have steadily increased, reaching a value of EUR 240 trillion in 2021 (compared to EUR 184.2 trillion in 2017). This trend has been accelerated
As previously discussed, Great Britain 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, Britons lost about £459.7mn to Authorised Push payment fraud — which includes purchase scams, online investment
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 the statutes of the not-for-profit organization. Read More
