Posts Tagged ‘PSR’
New draft legislation aims to tackle APP fraud
The UK Government will give UK banks the option to delay payments by up to four business days should they suspect fraudulent activity.
Read MorePSR’s new APP fraud reimbursement requirement puts UK ‘at the forefront’
The industry will have to comply with the Payment Systems Regulator’s new Authorised Push Payment fraud reimbursement requirement from 7 October 2024.
Read MoreJROC responds to the VRP Working Group’s blueprint
The UK’s Joint Regulatory Oversight Committee is targeting a Phase 1 rollout of non-sweeping VRPs by the third quarter of 2024.
Read MorePSR hires Dan Moore from the Department for Transport
Moore, who joins the PSR in January 2024, is currently director of rail strategy and analysis at DfT.
Read MorePSR reveals the UK banks enabling the most APP fraud
For the first time, the Payment Systems Regulator has published data showing, at an individual level, how well banks and payment firms are dealing with APP fraud.
Read MoreAPP fraud victims to be reimbursed under new rules set out by PSR
The changes put the UK at the forefront of the fight against APP fraud globally, according to Chris Hemsley, managing director at the PSR.
Read MoreJROC launches VRP and future entity working groups
The Joint Regulatory Oversight Committee has set up “dedicated workstreams” to kickstart work on the six key themes outlined in its recommendations for UK Open Banking.
Read MoreJROC sets out recommendations for next phase of UK Open Banking
The Committee has published a roadmap and framework to ensure Open Banking becomes “a UK success story”.
Read MoreUK government and regulators need to take ‘decisive action’ after release of SWG’s final report
The publication of the Open Banking SWG’s report to JROC also revealed need for industry to work together to “unlock” potential of VRPs.
Read MoreInsight: Clamping down on APP fraud is a balancing act
Token’s Robert Sullivan on why there is a fundamental tension between the PSR’s ambitions for A2A retail payments and its latest proposals to address APP scams.
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