LoginVoluntary Code on APP scams launches
The Code provides increased protections against authorised push payment scams
Posted 28 May 2019 | JoTS Online
Content Tags: Updates|Property and Housing|National
UPDATES: A voluntary code aimed at tackling Authorised Push Payment scams has come into force, setting out when victims should be reimbursed and how banks are expected to prevent increasingly sophisticated payment fraud.
Consumers are to benefit from significantly increased protections against authorised push payment scams (APP) as a new industry voluntary Code – the Contingent Reimbursement Model Code for Authorised Push Payment Scams – developed by the APP Scams Steering Group comes into effect from today (May 28).
APP scams occur when customers are tricked into authorising a payment to an account that ...
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