Preventing authorised push payment (APP) fraud is a top priority for us. APP fraud causes immense suffering and harm to consumers and society, and damages confidence in payments.
That is why we introduced the reimbursement requirement, which requires victims of APP fraud to be reimbursed by their payment service provider when they lose out. While undoubtedly important, ensuring that scam victims are not left out of pocket is only part of the solution. We want to strike at the heart of the problem to stop fraud occurring in the first place. To do so, we need to understand more about how fraudsters contact victims and earn their trust.
In December 2024, we intend to publish data on the firms which are most commonly reported as enabling contact between fraudsters and victims. Ahead of publishing, we are writing to the relevant firms, setting out the aims of publishing this data, how we collected the data, and future plans for publication.
Firms have the opportunity to meet with us or share their comments on our plans to publish this data by 5pm on 4 December 2024. Written comments can be sent to appscamenablers@psr.org.uk.