UK's payments regulator lays down new norms to tackle fraud

World
07-06-2023 | 03:15
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UK's payments regulator lays down new norms to tackle fraud
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UK's payments regulator lays down new norms to tackle fraud

Britain's Payment Systems Regulator on Wednesday confirmed new requirements for banks and payment firms to ensure more victims than ever before of authorised push payment (APP) fraud will get their money back.

The watchdog has set out mandatory reimbursements in cases of APP fraud when consumers or individuals at a business send money under false pretenses to a bank account controlled by fraudsters.
 

UK

Payment

Regulator

Lays

Down

New

Norms

Tackle

Fraud

British

Pound

Currency

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