CP24/7 APP scams data cycle 2 publication guidance

This consultation closed on 30 May 2024, and we have published our response. 

Why we are publishing this document and what it contains

We are collecting and publishing data to provide greater transparency about payment service providers’ (PSPs’) authorised push payment (APP) scam levels, fraud prevention rates and reimbursement levels. This will make PSPs more accountable for their own performance, improve the level of reimbursement for victims of APP scams, and encourage further fraud prevention measures by placing reputational incentives on both sending and receiving PSPs.

In October 2023, we published our first report on our website. We also required the 14 directed PSPs to publish a subset of this data on their homepage. This requirement is set out in Specific Direction 18 (published March 2023 and revised in December 2023). To support directed PSPs with publishing this comparative data, we provided guidance in October 2023. In this guidance, we asked directed firms to publish the data in chart form. Since this guidance was issued, we are proposing to make changes to the publication guidance for cycle 2 (January to December 2023), and we are seeking views on these changes.

This consultation document accompanies our draft guidance for cycle 2, which can be found at the bottom of this page. Alongside this, you will also find a comparison version of the previous publication guidance.