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The Independent UK
The Independent UK
Business
Vicky Shaw

New requirements to reimburse victims of bank transfer scams set out

PSR PAY Emma Lovell Rocio Concha Which The Payment Systems Regulator
PA Archive

People who have been tricked into transferring money to fraudsters will be able to receive up to £415,000 back per claim under new requirements coming into force next year, a regulator has confirmed.

The Payment Systems Regulator (PSR) outlined the new consumer protections against authorised push payment (APP) fraud, which will come into force from October 7 2024.

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