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PSR launches fraud reimbursement consultation
The Payment Systems Regulator (PSR) has published its consultation on proposed rules that would require firms to reimburse victims of APP fraud.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
This latest development is part of a package of measures delivering a major shift in the fight against APP fraud – providing new levels of consumer protection. It’s one of the three legal means the regulator will use to implement mandatory reimbursement.
PSR managing director Chris Hemsley said: “The PSR is leading the way on the fight against APP fraud in the UK, providing consumers with a significant new level of protection against this devastating crime.
“As we progress with our plans, today’s proposed direction builds upon our recent consultations, making sure all the right foundations are in place for the new requirements to be implemented by industry as soon as possible and in the most effective way possible.”
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