PSR consults on better consumer protection

The PSR is calling for views on:

• how to mandate reimbursing victims of APP scams: It thinks that a combination of requiring banks and building societies to publish their APP scam data, having a standardised approach to sharing data to help prevent scams and changing payment system rules to provide a minimum standard of protection should make a big difference; and
• the levels of protection for consumers in bank to bank payments more generally. As more people make transfers using apps or online banking, PSR is keen to understand whether the protections currently in place are sufficient.

It asks for views by 8 April.