The Payment Systems Regulator is here to make sure payment systems work well for those that use them.
One emerging area of payment fraud where there is currently little ‘systematic’ or ‘structured’ protection for consumers is authorised push payment (APP) scams – where a fraudster tricks you into sending them money. We’re making it harder for criminals to commit this type of crime – and if they do occur, we want to reduce the impact on the victim. We’re driving a range of initiatives do this, working with industry, consumer groups and other regulatory and government bodies. Our work in this area will also help combat other types of financial crime.
This latest document summarises the range of measures we are working on to protect people from this type of fraud.