In June 2023, we published our policy statement outlining our new authorised push payment (APP) fraud reimbursement requirement. It sets out a path to reducing the impact of this type of fraud – by making sure more victims of fraud get their money back, but also by prompting a step change in fraud prevention.

Date Published: 7 July 2023          Closing Date: 25 August 2023 

Why we are publishing this document and what it contains

We have published our consultation on two of our draft directions, which are the legal means to put our new APP fraud reimbursement requirements in place. This marks the start of our plans to implement new requirements that will see mandatory reimbursement for victims of APP fraud.

  • The first requirement looks at the rule changes needed to be applied within the Faster Payments System (FPS).
  • The second requirement focuses on making sure Pay.UK, the operator of FPS, has an effective monitoring regime that will measure whether payment firms are consistently complying with the reimbursement requirements.
  • The PSR has also published the draft details of the general direction that will see all payment firms reimbursing victims of APP fraud. This third direction will be consulted on separately in October.

We want these requirements to be in place for consumers as soon as possible and are proposing an implementation date of 2 April 2024.

Who should read this document 

This document is relevant to the payments industry, consumer groups, payment service providers, and prospective qualifying customers who use Authorised Push Payments to send money and will be within scope of the policy, once implemented.

What happens next 

The consultation is open until 5pm on 25 August 2023. You can email your comments to  or write to us at: 

APP scams team

Payment Systems Regulator

12 Endeavour Square


E20 1JN 

Looking for something?

Share this page: