In 2018, we set up a steering group of industry and consumer representatives, led by an independent chair, to develop a voluntary, industry CRM Code. The final Code came into force in May 2019.

The CRM Code aims to reduce both the occurrence and impact of APP scams, and is designed to give people the confidence that, if they fall victim to an APP scam and have acted appropriately, they will be reimbursed. It sets out standards for signatory Payment Service Providers (PSPs) – a group including the largest banks in the UK – and for customers who are covered by the Code (consumers, micro-businesses and small charities).

The Lending Standards Board (LSB) oversees the Code and its members, while we continue to monitor the operation of the Code and the impact it has on the number of APP scams. The Financial Ombudsman Service provides dispute resolution between banks and customers on decisions under the Code as part of its considerations into the individual circumstances of a complaint.