CP24/7: APP scams data cycle 2 publication guidance

Why we are publishing this document and what it contains

We are collecting and publishing data to provide greater transparency about payment service providers’ (PSPs’) authorised push payment (APP) scam levels, fraud prevention rates and reimbursement levels. This will make PSPs more accountable for their own performance, improve the level of reimbursement for victims of APP scams, and encourage further fraud prevention measures by placing reputational incentives on both sending and receiving PSPs.

In October 2023, we published our first report on our website. We also required the 14 directed PSPs to publish a subset of this data on their homepage. This requirement is set out in Specific Direction 18 (published March 2023 and revised in December 2023). To support directed PSPs with publishing this comparative data, we provided guidance in October 2023. In this guidance, we asked directed firms to publish the data in chart form. Since this guidance was issued, we are proposing to make changes to the publication guidance for cycle 2 (January to December 2023), and we are seeking views on these changes.

This consultation document accompanies our draft guidance for cycle 2, which can be found at the bottom of this page. Alongside this, you will also find a comparison version of the previous publication guidance.

What happens next

We welcome your views on the proposed changes for cycle 2 in this consultation paper by 5pm on 30 May 2024.

You can send your comments and responses to our consultation by emailing us at appscamsdata@psr.org.uk. Or you can write to us at:

APP scams measure 1

Payment Systems Regulator

12 Endeavour Square

London E20 1JN

We welcome comments from all stakeholders and interested parties, not only entities that we regulate. During our consultation we will engage with directed firms and industry trade bodies through an industry roundtable to give stakeholders the opportunity to ask questions and provide feedback in person.

Following consultation and our assessment of the responses, we expect to issue the final publication guidance for cycle 2 by the end of June 2024.