LoginFraud refund proposal slammed
Plans to reduce the amount victims can reclaim from banks have met with criticism
Posted 05 September 2024 | JoTS Online
Content Tags: Updates|Consumer Goods and Services|National
UPDATES: Which? has condemned the Payment Systems Regulator’s proposal to cut the reimbursement cap for authorised push payment fraud victims from £415,000 to £85,000, warning that high-value scam victims could be abandoned.
The Payment Systems Regulator (PSR) has proposed to reduce the planned amount that fraud victims are entitled to reclaim from their banks from £415,000 to £85,000, in a move that has met with consternation from consumer group Which?
The regulator is conducting a consultation on its decision to reduce the threshold for reimbursements, with new rules designed to protect fraud vict...
CTSI Member-Only Content
This content can only be accessed by logged-in members of CTSI.
Already a member? Please enter your details below. If your login is successful, the page will automatically refresh and the full content will be visible.
Why join CTSI?
The Chartered Trading Standards Institute (CTSI) is the representative body for UK Trading Standards and Regulatory Compliance professionals - and one of the largest, oldest (est. 1881) and most respected consumer protection organisations in the world.
As a non-profit campaigning organisation (see our Latest Campaigns), our strength, our voice and our ability to influence government, industry and the media, and shape public opinion comes directly from our membership, who are organised in an active network of branches, regions and special interest groups around the country. We are stronger together.
Interested in becoming a Member of CTSI?
Read about our various Membership Options - from Full Membership (qualified Trading Standards professionals) to Associate Membership (consumer protection supporters).
