PSR speech providing clarity on its response to APP scams
On 23 January 2020, the Payment Systems Regulator (PSR) published a speech by Chris Hemsley, Managing Director of the PSR, setting out his views on, among other things, ensuring that victims of authorised push payment (APP) fraud are reimbursed when they have done nothing wrong.
The PSR welcomes the voluntary Contingent Reimbursement Model Code (CRM), which a number of banks signed up to in May last year but acknowledges that there are still loose ends…