Caps Consumer Protection Scams 
The Payments Association
OCTOBER 14, 2024
The Payment Systems Regulator’s decision to lower the cap for APP fraud reimbursements to £85,000. The Payment Systems Regulator (PSR) recently announced a significant change to the cap for authorised push payment (APP) fraud reimbursements. She supports lowering the limit but acknowledges convincing consumers will be challenging.
The Payments Association
DECEMBER 2, 2024
2024 reshaped payments with instant payment mandates, crypto regulations, and enhanced consumer protection driving innovation and security. In 2024, payments regulation underwent seismic shifts, with reforms spanning fraud prevention, digital innovation, and consumer protection, collectively redefining the industry’s future.
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Neopay
SEPTEMBER 11, 2024
The Payment Systems Regulator (PSR) has set a crucial date of 7 October 2024 for implementing new protections against Authorised Push Payment (APP) scams, reaffirming its commitment to tackling this growing threat. This issue is key in demonstrating why stronger protections beyond transaction limits are necessary.
The Payments Association
OCTOBER 21, 2024
The UK’s increasing fraud and scam problem, focusing on new regulations mandating automatic reimbursement for APP fraud victims. The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. The UK’s fraud and scams problem is not going away.
Fintech News
SEPTEMBER 29, 2024
Dang’s experience is not uncommon in Vietnam, with many others falling victim to similar scams facilitated through Facebook groups. BNPL fraud exploits Singaporean users through Singpass scams This type of scam is just one example of how BNPL platforms are being exploited. billion by 2025, reaching a total of US$8.83 billion.
The Fintech Times
SEPTEMBER 4, 2024
The UK’s Payment Systems Regulator (PSR) has announced a significant reduction in the maximum fraud reimbursement limit for authorised push payment (APP) scams, lowering it from £415,000 to £85,000 just weeks before new rules take effect in October. Consumer protection is at the centre of our proposal.
Fintech News
OCTOBER 27, 2024
The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. Duties of FIs and PSPs FIs and PSPs must implement several anti-scam measures to prevent unauthorized access and detect phishing threats.
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