‘High proportion’ of APP scam victims getting their money back under new rules

The Payment Systems Regulator has seen evidence indicating that more consumers have been protected following the launch of a mandatory APP fraud reimbursement code (PA) - (PA Archive)

A “high proportion” of scam victims are getting their money back since new mandatory fraud reimbursement rules were launched last October, according to the regulator overseeing the policy.

The rules, overseen by the Payment Systems Regulator (PSR), require banks to give people their money back when they have been tricked into transferring it to criminals.