Date Published: 8 May 2024          Closing Date: 31 May 2024   

What does this document contain and why are we publishing it?  

We are proposing to direct banks and other payment firms participating in CHAPS to reimburse their customers who have been victims of authorised push payment (APP) scams. Our direction will underpin the Bank of England’s new CHAPS reimbursement rules.  

In June 2023, we published our policy requiring payment firms to reimburse APP scam victims who lose money through transactions over the Faster Payment System (FPS) – the system over which the majority of these scams happen. These FPS protections, which come into effect from 7 October 2024, mark a step change in the culture of payments to improve scam prevention and focus firms on protecting people. 

However, criminals operate across multiple payment systems and in December 2023, we said we would support the Bank of England as it introduces similar requirements for CHAPS. This means consumers will benefit from consistent protection across two major UK payment systems and more payment firms will be incentivised to tackle scams, reducing the likelihood of criminals switching from FPS to CHAPS due to differences in firms’ defences.  

We have made our approach to CHAPS as similar as possible to our approach to FPS to reduce unnecessary duplication of work for directed payment firms while ensuring a high level of protection in both systems.  

On this page you will also find:

  • The draft cost benefit analysis for the CHAPS APP scam reimbursement requirement.
  • The draft CHAPS Compliance Data Reporting Standard (CCDRS). The CCDRS specifies the data and information that all PSPs will be required to collate and retain for the Bank to effectively monitor compliance.
  • The Bank’s draft CHAPS reimbursement rules. If you have any comments on these, please send them directly to the Bank here, by 5pm on 31 May 2024:

What happens next? 

The consultation is open until 5pm on 31 May 2024. You can email your comments to or write to us at:

APP scams

Payment Systems Regulator

12 Endeavour Square

London E20 1JNF

After we have considered the responses to this consultation, we expect to finalise and publish the specific direction in September 2024. We are proposing 7 October as the go-live date; the same as the FPS reimbursement policy, meaning APP scam victims will get the same protection across both payment systems.

Supplementary Files

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