Topic Regulator
Payment Systems Regulator (UK)
The UK's payments regulator. It introduced mandatory reimbursement for victims of authorized push payment scams on Faster Payments from October 7, 2024.
Also called: PSR, UK
- Jurisdiction
- United Kingdom
- Official site
- psr.org.uk
Questions (2) #
- What is APP fraud?Fraud
Authorized push payment (APP) fraud is a scam in which the victim is tricked into sending a payment themselves, for example to someone impersonating their bank, a supplier or a romantic partner.
- Who pays when a UK customer falls for an APP scam?Fraud
Since October 7, 2024, UK payment firms must reimburse most eligible victims of authorized push payment scams made over Faster Payments, up to £85,000 per claim.