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The Latest Breaking News from The Payment Systems Regulator

Bank of Ireland UK fined £3.7m after introducing anti-fraud tool a year late

The safeguard was not applied to payments totalling around £6.9 billion, the Payment Systems Regulator (PSR) said.

Evening Standard

£66m returned to APP scam victims in first six months of rules going live

The Payment Systems Regulator said the data shows ‘positive outcomes for consumers’ in the first six months of mandatory reimbursement rules.

Evening Standard

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

The policy launched last October has been successfully implemented and more consumers have been protected, a Payments Systems Regulator boss said.

Evening Standard

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Staff at payments watchdog ‘told on Tuesday that organisation will be abolished’

Boss David Geale told MPs he is ‘hugely proud’ of how staff at the Payment Systems Regulator reacted, having been briefed on Tuesday.

Evening Standard

Over half of APP scams last year ‘carried out by fraudsters using social media’

Authorised push payment scams cost UK consumers £341 million last year, according to figures obtained by the Payment Systems Regulator.

Evening Standard

Maximum reimbursement limit for bank transfer scam victims slashed to £85,000

The announcement of the reduced limit was made by the Payment Systems Regulator ahead of mandatory rules coming into force next month.

The Independent UK

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

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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

UK economy heading for ‘soft landing’ says IMF, in warning against tax cuts – as it happened

The IMF has delivered its verdict on the UK economy, and signalling its opposition to pre-election tax cuts from Jeremy Hunt

The Guardian - UK

New requirements to reimburse victims of bank transfer scams set out

The new consumer protections against authorised push payment fraud will come into force from October 7 2024.

The Independent UK

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