Understanding the Authorised Push Payment (APP) fraud threat
In today’s digital age, where electronic transactions have become commonplace, the spectre of fraud continuously looms large. One such deceptive practice that has been increasingly plaguing the UK’s financial landscape is Authorised Push Payment (APP) fraud. At its core, APP fraud involves a fraudster deceiving individuals into sending them money. These payments are ‘authorised’ because […]
PSR proposes £415,000 cap on APP fraud claims
The Payment Systems Regulator (PSR) has launched two consultations in the lead up to the implementation of its new authorised push payment (APP) fraud reimbursement requirements. In June, the PSR set out its final position on tackling APP fraud, which will mean the vast majority of victims will be reimbursed within five days of the […]
