Authorised Push Payment Fraud: Are PSPs Ready for Reform?

After the Financial Services and Markets Bill received royal assent on 29 June 2023,  the Payment Systems Regulator (PSR) obtained new powers to direct Payment Services Providers (PSPs) using Faster Payments to fully reimburse victims of authorised push payment (APP) fraud, with the reimbursement requirement coming into force next year. Tommaso Scarpa, head of financial […]