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The Latest Breaking News from PSR

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

Treasury Committee chair Harriett Baldwin said regulators need to sort out exclusions and criteria quickly.

The Independent UK

Plans to reimburse bank transfer scam victims are ‘fundamentally flawed’, Treasury Committee warns

‘Putting an industry body in charge of reimbursing scam victims is like asking a fox to guard the henhouse’

The Independent UK

Plans to reimburse bank transfer scam victims are flawed – Treasury Committee

Victims of fraud have been waiting too long for a fair and functional scam reimbursement scheme, MPs said.

The Independent UK

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TSB warns that new fraud refund mechanism could exclude a quarter of victims

Regulator's new rules reimburse bank transfer fraud victims, but exclude refunds where payments are for less than £100

Insider UK

Medicare watchdog investigates just 100 cases of inappropriate billing every 12 months

The watchdog responsible for policing Medicare investigates just 0.07 per cent of health professionals each year, is chronically understaffed and underfunded, and is led by bureaucrats with strong links to the powerful Australian Medical Association, an ABC-Nine investigation has found.

ABC News

Scottish Power and Utilita slapped with Ofgem warnings for failing to protect customers

Provisional orders were given to the energy companies in order for them to comply with their licensing conditions

Wales Online

Struggling households can get extra help if their gas and electric has been cut off

Vulnerable and elderly Brits are being encouraged to sign up to the Priority Services Register, which means they could get extra help, cooked meals and other help during power cuts

Daily Mirror

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Liz Truss derided for ‘dangerous’ reported plan to merge UK financial regulators

Ex-business secretary Vince Cable says potential integration of FCA, PRA and PSR, formed after financial crisis, poses systemic risks

The Guardian - UK

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.

The Independent UK

Mastercard fined £31.5m for operating cartel in pre-paid card market

Regulator fines Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion after finding that they broke competition law

The Independent UK

Mastercard among five firms fined £33million for breaking law on prepaid cards

Mastercard, allpay, Advanced Payment Solutions (APS), Prepaid Financial Services (PFS) and Sulion all admitted breaking the law by agreeing not to compete or poach each other’s customers

Daily Mirror

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