UK Losses to APP Scams Are Surging — What Can Banks Do?
FICO
OCTOBER 20, 2020
The UK is home to the most sophisticated Authorized Push Payment (APP) scams in the world. The short answer is that instant, irrevocable payments are very attractive to criminals, who are further emboldened by the UK’s Contingent Reimbursement Model (CRM) Code , enacted in May 2019, which requires banks to support APP scam victims.
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