People will be able to see their own bank’s performance on bank transfer scams

The Payment Systems Regulator wants to hear views on guidance for firms who will be required to publish data on their performance on APP scams.

Vicky Shaw
Thursday 09 February 2023 10:46 GMT
People will be able to see how well their bank or building society might treat them if they were tricked into transferring money to a fraudster, under a regulator’s plans (Dominic Lipinski/PA)
People will be able to see how well their bank or building society might treat them if they were tricked into transferring money to a fraudster, under a regulator’s plans (Dominic Lipinski/PA)

People will be able to see how well their bank or building society might treat them if they were tricked into transferring money to a fraudster, under a regulator’s plans.

The Payment Systems Regulator (PSR) has published its latest consultation on guidance to support firms with providing the correct data when they report their information on authorised push payment (APP) scams to the regulator.

The regulator wants to hear views on guidance for firms who will be required to publish data on their performance on APP scams.

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