Covered in this Briefing Note:

The UK is undertaking big changes to tackle Authorised Push Payment (APP) fraud. In 2022, the Payment Systems Regulator (PSR) announced plans for a new regulatory framework to fight APP fraud, which will require banks to reimburse victims of fraud.

A consultation paper on the framework has been available for critique and discussion since September 2022 and a draft framework can be expected later this year. In light of these changes we are highlighting the challenges surrounding APP fraud and the current state of play.