All the updated news related to payments fraud

All the news related to payments fraud updated in real time

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Personal Finance

Banks will be required to reimburse APP scam victims from next year

New rules compelling banks to reimburse scam victims who have been tricked into paying fraudsters will come into force next year, a regulator has said. Most victims of authorised push payment (APP) fraud will be reimbursed within five business days ...

07 Jun 2023 at 15:58

Personal Finance

Proposals to reimburse scam victims are half-baked, says Treasury Committee

Proposals to reimburse victims of bank transfer scams are half-baked in their current form and need further action, according to the Treasury Committee. New financial regulations being considered by the Payment Systems Regulator (PSR) will require ...

04 Mar 2023 at 00:01

UK retail sector lost £11.3bn to payments fraud last year, figures suggest

The UK retail sector lost £11.3 billion to payments fraud last year, figures suggest. More than a third of UK businesses (35%) fell victim to fraudulent activity, cyber attacks or data leaks over the last 12 months, up 37% on 2022, according to ...

08 Apr 2024 at 00:01

Personal Finance

People warned to ‘be alert’ to threats of online fraud

People are inclined to believe a scam is more likely to start with a phone call than online, despite internet contact being the trigger for many frauds, a survey indicates. Take Five to Stop Fraud, which released the research ahead of Safer ...

10 Feb 2025 at 10:12

Personal Finance

New requirements to reimburse victims of bank transfer scams set out

People who have been tricked into transferring money to fraudsters will be able to receive up to £415,000 back per claim under new requirements coming into force next year, a regulator has confirmed. The Payment Systems Regulator (PSR) ...

21 Dec 2023 at 14:34

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