APP Scam Steering Group announces voluntary code to combat fraud

The Authorised Push Payment (APP) Scams Steering Group announced that it has agreed a voluntary Code of good practice.

The Code aims to better protect customers and reduce the occurrence of APP fraud. It sets out the agreed principles for greater protection of consumers and the circumstances in which any customer of a bank or PSP signed up to the Code who falls victim to an APP scam will be reimbursed if their bank failed to meet the standards set out in the Code.

The Code will become effective on 28 May 2019.