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As the Which Super Complaint points out, with APP fraud UK consumers and businesses have been left unprotected, compared to other payment methods. Banks have given customers the ability to make real-time, irrevocablepayments but have not given them protection if something goes wrong.
In the UK £250K can now be sent in a single, irrevocablepayment – and the system has been tested for up to an eyewatering £10 million. We’ve already seen the impact of authorized push payment fraud on them, even when payments are not cleared on the same day. Who Is Liable? In September 2016, the UK consumer group Which?
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