The Payment Systems Regulator (PSR) confirms the arrangements for publishing data on APP scam performance, which will, for the first time, show how well payment firms are handling APP scams. 

This is a crucial step towards greater transparency of performance of firms in the fight against fraud. Firms across the whole payments industry, including banks, building societies and other payment firms like e-money institutions – on both the sending and receiving end of a payment – will be accountable for their performance and encouraged to do more to prevent fraud and look after victims.  

This action will also importantly put more power in the hands of the customer, as they will be able to see how well they’ll be protected by their bank or building society if they’re scammed. This will see a significant step up in the information customers have available to them when choosing who to bank with.  

To achieve this, the PSR is directing 14 of the largest UK payment service provider (PSP) groups to collect and provide data to the regulator which will cover 95% of transactions.  

The reporting requirement will see the following data being published:  

  • the proportion of victims of APP scams who do not get reimbursed   
  • the rates of APP scams happening at sending payment firms  
  • the rates of APP scams happening at receiving payment firms  

The first set of data will be published in October on the PSR website.  

Kate Fitzgerald, Head of Policy at the PSR, said:   

“This is a major step forward in tackling APP scams. This requirement will provide a new and unprecedented level of transparency to consumers on which payment firms have the highest levels of scams and how well each firm is looking after victims. Firms across the fraud journey – from where the transaction is initiated to where it is being received by the fraudster – will also be incentivised to raise their game and do more to detect and prevent APP scams in the first place.  

“Making sure people and businesses are protected when using payment systems is one of our strategic priorities and this measure is just one of a number of important steps we’re taking to prevent APP fraud and ensure money is returned to victims.”  

In addition to the improved transparency, this data will also help to spot systemic issues within particular firms. 

What happens next?  

The 14 directed groups will be required to provide the PSR with the first set of data by May 2023. The regulator then expects to publish this data in October 2023, and on a six-monthly basis thereafter. This requirement may adapt over time to reflect new changes or data that should be presented.  


  • Today’s publication includes a policy statement, specific direction, reporting guidance and data collection templates, which can all be found on this page.  
  • The 14 PSP groups subject to this direction are: AIB, Barclays, HSBC, Lloyds, Metro Bank plc, Monzo Bank Limited, NatWest group, Nationwide Building Society, Northern Bank Limited, Santander UK plc, Starling Bank Limited, the Co-operative Bank, TSB Bank pc and Virgin Money UK plc.    
  • The data that will be published by the PSR in October will be aggregated – meaning it will be presented on a banking group basis (for example, Lloyds Banking Group’s data will include Lloyds Bank, Halifax, and Bank of Scotland).    
  • The PSR is driving forward a package of financial and reputational incentive measures to tackle APP scams – these focus on the publication of scam data, industry efforts to improve intelligence sharing, and greater consumer protections for APP scam victims. The PSR will be able to direct firms to reimburse customers once parliament has granted it the right powers through the Financial Services and Markets Bill. This Bill is still making its way through parliament.  
  • In August 2019, the PSR directed members of the UK’s 6 largest banking groups to implement Confirmation of Payee which now covers 99% of payments made from one bank account to another.