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The Latest Breaking News from Payment Systems Regulator

APP fraud reimbursement ‘still largely depends on who victims bank with’

The Payment Systems Regulator has published authorised push payment scam reimbursement figures for banks and building societies.

The Independent UK

Mastercard and Visa raising fees but not improving quality, watchdog warns

The Payment Systems Regulator said it has provisionally concluded the cards market is not working well.

The Independent UK

Banks’ performance in dealing with APP scam victims revealed by regulator

The Payment Systems Regulator said there are inconsistent outcomes for customers who report an APP scam to their bank or building society.

The Independent UK

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Banks will be required to reimburse APP scam victims from next year

Most victims of authorised push payment fraud will be reimbursed within five business days, the Payment Systems Regulator said.

The Independent UK

Cruel ‘scam of mum and dad’ sparks a regulatory crackdown

Rules are set to be tightened to help reimburse victims of fraudsters exploiting parents’ instinct to help their offspring

The Guardian - UK

Scam attack on Ukrainian mother exposes flaw in UK bank safeguards

Woman who was conned out of £32,000 after she came to Britain was initially refused compensation because she used a debit card to transfer money from her account

The Guardian - UK

Santander issues warning to bank account holders as woman loses over £80,000

Santander has called for industry-wide rules for all banks to prevent people being tricked into transferring cash to fraudsters through so-called authorised push payment (APP) scams

Daily Mirror

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Mastercard and others fined for cartel behaviour in prepaid cards market

The Payment Systems Regulator said it had concluded that the companies infringed competition law.

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