App Fraud

From 7 October 2024, victims of authorised push payment (APP) scams will be able to claim a maximum reimbursement of £85,000 for losses incurred through Faster Payments and CHAPS, the Bank of England's Payment Systems Regulator (PSR) has confirmed. This decision by the PSR board reduces t

The UK's Payment Systems Regulator (PSR) is proposing to lower the maximum amount banks must refund victims of authorised push payment (APP) fraud from £415,000 to £85,000. The regulator is currently consulting on this change, having reviewed data on high-value APP scams, which