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Evening Standard
Evening Standard
Vicky Shaw

£173m returned to APP fraud victims in first year of new reimbursement rules

PSR
APP scams happen when someone is tricked into sending a payment, for example if a criminal pretends to be from a bank or a government body such as HM Revenue and Customs (Dominic Lipinski/PA) - (PA Archive)

Around £173 million of money lost to authorised push payment (APP) scams in the first year of new reimbursement rules coming into force was handed back to victims, according to figures from the Payment Systems Regulator (PSR).

This equated to 88% of the money lost to APP scams, the regulator said.

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