The UK is undertaking big changes to tackle Authorised Push Payment (APP) fraud. In 2022, the Payment Systems Regulator (PSR) announced plans for a new regulatory framework to fight APP fraud, which will require banks to reimburse victims of fraud.
A consultation paper on the framework has been available for critique and discussion since September 2022 and a draft framework can be expected later this year. In light of these changes we are highlighting the challenges surrounding APP fraud and the current state of play.
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