Authorised Push Payment (APP) Fraud
Authorised Push Payment (APP) Fraud
With effect from 7 October 2024 new rules are bring introduced by the Payment Systems Regulator (PSR) to protect consumers who are subject to APP Fraud. These rules make it easier for eligible victims of APP fraud to claim a refund, by introducing mandatory reimbursement, and ensure that victims receive consistent levels of protection.
What is APP Fraud?
Authorised Push Payment (APP) fraud happens when a fraudster tricks you into sending money to someone you didn’t intend to pay or the payment was not for the purpose you intended. APP fraud involves the victim being deceived into willingly authorising the payment.