APP scams reimbursement policy
Open consultations
No consultations currently open.
Key resources
- June 2023 policy statement - setting out our policy position on the reimbursement requirement for APP scams.
- December 2023 policy statement - adding to/finalising points in the June policy statement, not superseding it. On this page you'll also find responses to 2023 reimbursement requirement consultations.
- July 2024 policy statement - PS24/3 FPS APP scams reimbursement compliance and monitoring - confirming for all PSPs in scope of our reimbursement requirement policy to report data and information to Pay.UK, so that it can effectively monitor and manage compliance with the FPS reimbursement rules.
- Specific Direction 19 - directing Pay.UK to create and propose to us their plans for an effective compliance monitoring regime for APP scams reimbursement.
- Specific Direction 20 - containing the APP scams reimbursement requirement and directing in scope PSPs to comply with the reimbursement rules. On this page you'll also find an indirect access provider (IAP) reporting template.
- Specific Requirement 1 - requiring Pay.UK to create the APP scams reimbursement rules. On this page you'll also find the consumer standard of caution exception, the consumer standard of caution exception guidance, and maximum excess/maximum level of reimbursement notices of value.
- CHAPS reimbursement rules - confirming the approach we are taking to expand reimbursement protections to consumers of CHAPS. The approach is aligned with the one we are taking for Faster Payments.
- Specific Direction 21 - containing the APP scams reimbursement requirement and directing in scope PSPs to comply with the reimbursement rules. It applies to all PSPs participating in CHAPS that provide relevant accounts.
- Faster Payments Scheme participants - This is a list of payment service providers (PSPs) that participate in the Faster Payments Scheme (FPS), and therefore may fall in scope of our Specific Direction 20 (SD20).
- Information around consumer communications for PSPs on our reimbursement requirement - This aims to facilitate compliance with our Specific Direction 20 (SD20), which requires sending PSPs to inform existing consumers of their rights under the reimbursement requirement and rules.
- Final guidance on APP scams and civil disputes - This is to support PSPs in distinguishing between APP scams and civil disputes.
- Our letter to FPS participants - This is a letter to FPS participants in the lead up to the reimbursement requirement going live on 7 October 2024. It highlights three key areas for firms to focus their implementation activities over the coming months to ensure effective and timely implementation.
- Roadmap to implementation - setting out steps firms should be taking as we approach implementation, how they can get in touch to request clarity on our policy statement and legal instruments, and our upcoming implementation consultations.
- Policy clarifications - firms can write to us at Appscamspolicyclarifications@psr.org.uk, requesting clarity on the policy statements and legal instruments. We are uploading the questions received and our responses on this page.
- Keynote speech by Ben Woodside, PSR Policy Manager, at the Payment Services & Financial Crime Compliance Forum 2024 - on industry readiness ahead of the implementation of our reimbursement requirement.
Pay.UK resources
- The PSR has directed Pay.UK to implement the reimbursement rules on Faster Payments. PSPs can visit Pay.UK’s website for further information on their plans and engagement in the lead up to implementation.
Past consultations on reimbursement
September 2024
- Consultation on our proposal to change the maximum level of reimbursement for the reimbursement requirement, for the 7 October 2024 policy start date.
July 2024
- Draft guidance on APP scams reimbursement requirement: Supporting the identification of APP scams and civil disputes - draft guidance to support Payment Service Providers (PSPs) in their assessment of whether an APP scam claim raised by a consumer is not reimbursable under the reimbursement requirement because it is a private civil dispute.
May 2024
- Consultation on CHAPS APP scam reimbursement requirement - setting out our proposals to direct banks and other payment firms participating in CHAPS to reimburse their customers who have been victims of APP scams. The PSR’s direction will underpin the Bank of England’s new CHAPS reimbursement rules.
April 2024
- We published the consultation on a compliance and monitoring regime. It sets out our proposals for all PSPs in-scope of our reimbursement policy to report data and information to Pay.UK, so that it can effectively monitor and manage compliance with the reimbursement rules.
September 2023
- We published a consultation on the proposed specific direction that will underpin the Faster Payments reimbursement rules.
August 2023
- We published two consultations - one on the maximum level of APP scams reimbursement and claim excess, and the other on the consumer standard of caution.
July 2023
- We published our consultation on two of our draft directions, which are the legal means to put our new APP scams reimbursement requirement in place.
September 2022
- We set out specific proposals around mandatory reimbursement for victims.
November 2021
- We consulted on a package of proposals to tackle APP scams, including publication of fraud data by banks and improving intelligence sharing to enhance scam detection and prevention. HMT also announced that legislative changes would be made by Government to allow us to require banks to provide mandatory reimbursement to victims.
APP scams performance data
Key resources
- Latest APP scams performance data - published in August 2024, this report shows the full extent of how banks have performed in tackling APP fraud and treating victims throughout 2023. Our first report, covering 2022, is also available on this page.
- March 2023 policy statement - setting out our policy position on the collection and publication of APP scams performance data.
- Specific Direction 18 - requiring publication of information relating to APP scams.
- July 2024 Publishing APP fraud data: A guide for PSPs - guidance for PSPs, explaining the content that must be included as part of this data requirement, the format that must be used, and the timescales that must be followed.
- July 2024 - Cycle 2 APP scams data reporting guidance for PSPs - setting out finalised reporting guidance for the second reporting cycle. It aims to help PSPs provide us with the correct data and any additional information that we may need.
Past consultations on APP scams performance data
May 2024
- We published a consultation on proposed changes to the publication guidance for cycle 2 of APP scams performance data.
September 2023
- We published a consultation on timings and reporting periods for cycle 2 of APP scams performance data.
August 2023
- We published a consultation on revised reporting guidance for cycle 2 of APP scams performance data.
February 2023
- We launched a consultation seeking views on guidance for PSPs who will have to publish data on their performance on APP scams.
December 2022
- We launched a consultation seeking views on the way data showing how well firms are protecting customers against APP scams will be collected and published.
November 2021
- We consulted on a package of proposals to tackle APP scams, including publication of fraud data by banks and improving intelligence sharing to enhance scam detection and prevention.