FICO

NOVEMBER 19, 2019

The Contingent Reimbursement Model (CRM) is a UK payments industry initiative designed to reimburse victims of authorised push payment fraud (APP fraud). As the Which Super Complaint points out, with APP fraud UK consumers and businesses have been left unprotected, compared to other payment methods.

Irrevocable Payment 52

Irrevocable Payment Irrevocability Scams Faster Payments 52

FICO

OCTOBER 20, 2020

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. Here’s a preview: Q: Why is the UK a hotbed of APP scam activity?

Scams 52

Scams Push-to-Card Irrevocable Payment Irrevocability 52

FICO

OCTOBER 20, 2020

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. Here’s a preview: Q: Why is the UK a hotbed of APP scam activity?

Scams 40

Scams Push-to-Card Irrevocable Payment Irrevocability 40