Proposals to reimburse scam victims are half-baked, says Treasury Committee

PA Archive

Proposals to reimburse victims of bank transfer scams are half-baked in their current form and need further action, according to the Treasury Committee.

New financial regulations being considered by the Payment Systems Regulator (PSR) will require banks and building societies to fully reimburse victims of authorised push payment (APP) scams, where the loss is more than £100.