PSR reports on initiatives to protect public from APP scams

The Payment Systems Regulator has published a summary of measures it is currently working on with other bodies to protect customers from authorised push payment scams – where fraudsters trick people into sending them money.  These ongoing or imminent measures include

• the enhancement of sanctions data quality
• confirmation of payee
• guidelines for identity, verification, authentication and risk assessment, and
• a contingent reimbursement model (CRM).