The U.K. Payment System Regulator (PSR) is continuing its fight against authorized push payment (APP) fraud. New rules and legislation will provide the regulator with more tools to reduce fraud and to demand compensation from banks. APP scams occur when individuals and businesses are tricked...
The U.K. Treasury, the Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA) and the Payment System Regulator (PSR), issued a joint statement Friday (March 25) highlighting the benefits of open banking and their plan to create a new regulator that continues supporting these...
The U.K. Payment System Regulator (PSR) is a fundamental piece of the regulatory payment landscape in the U.K. It has powers to set standards, impose requirements regarding system rules, require operators to provide direct access to payment systems and even investigate companies’ practices. Andrew Self,...
The U.K. Payments System Regulator (PSR) is taking steps to address the 100 payment scams hitting consumers and businesses every day. The financial watchdog has published a response to a complaint filed by consumer advocacy group Which? more than a year ago. That complaint highlights...
September 29, 2022
Banks in the U.K. will have to make good on the money their customers lose from the biggest type of payment fraud in Britain under a proposal by the Payment System Regulator (PSR). In the PSR’s latest consultation, wider protections from Authorised Push Payment (APP) scam losses are proposed as well as further action to prevent APP fraud, […]
