Regulators in the U.K. are preparing to mandate that banks reimburse victims of APP fraud. Leading the charge, the Payment Systems Regulator (PSR) has drawn up proposals for a new framework that will require banks and other payment service providers to reimburse victims of authorized...
U.K. legislators are calling for a mandatory 24-hour waiting period on all first-time payments between bank accounts as a way to reduce fraud, Reuters reported on Friday (Nov. 1). Parliament’s Treasury Select Committee said in a report that in the first six months of 2019,...
Royal Bank of Scotland (RBS) was slammed by U.K. lawmakers, who published a report on Tuesday (Feb. 20) that details how RBS mistreated companies that were struggling during and after the financial crisis. According to a report in Reuters, the Treasury Select Committee said that...
December 03, 2023
British lawmakers say they’re still not sure their country needs a digital currency. “It must be clearly evidenced that a retail digital pound will provide benefits to the U.K. economy without increasing risks or leading to unmanageable costs before any decision is taken to introduce it into our financial system,” committee chair Harriett Baldwin said, […]
November 01, 2019
U.K. legislators are calling for a mandatory 24-hour waiting period on all first-time payments between bank accounts as a way to reduce fraud, Reuters reported on Friday (Nov. 1). Parliament’s...
February 21, 2018
Royal Bank of Scotland (RBS) was slammed by U.K. lawmakers, who published a report on Tuesday (Feb. 20) that details how RBS mistreated companies that were struggling during and after...
