Protect your bank through inbound payment monitoring:
PSR APP fraud regulation overview:
What is it and when will it come into force?

November 1, 2124

Book a tailored workshop for your team on inbound payments and this new PSR regulation.

A new reimbursement policy for Authorised Push Payment (APP) fraud is being introduced in the UK.

APP fraud happens when a fraudster tricks a victim into sending a payment to an account outside of their control. In 2022, there were around 207,000 reported APP fraud cases totalling losses of £485.2 million.

The new policy aims to increase the number of victims that receive financial reimbursement by offering enhanced consumer protection. In 2022, c. 60% of scams were refunded; the proposed regulatory change aims to increase reimbursement rates to closer to 100%.

This world-first reimbursement policy proposal can be summarized in two key statements:

  • It requires banks to reimburse in-scope customers who fall victim to APP fraud in most cases;
  • It shares the cost of reimbursing victims 50:50 between sending and receiving banks.

Uncover Your Hidden Fraud Risk

and Save Money

Don’t let outdated, legacy fraud detection solutions cost you.
Most systems are blind to the subtle patterns and emerging threats that cost businesses millions, but Feedzai goes deeper.

We’ve successfully replaced every major provider, reducing fraud losses each time. Schedule a free risk assessment, and we’ll uncover hidden vulnerabilities in your current defenses, revealing the true cost of fraud to your business.

Schedule Risk Assessment

Page printed in December 22, 2024. Plase see https://www.feedzai.com/event/protect-your-bank-through-inbound-payment-monitoring-psr-app-fraud-regulation-overview-what-is-it-and-when-will-it-come-into-force for the latest version.