UK banks to reimburse fraud victims under new rules, regulator confirms
by Jess Clark from World news | The Guardian on (#6C3CS)
Requirement to refund people who have been tricked by scammers will be implemented in 2024
Banks will be required to reimburse fraud victims who have been tricked into sending money to scammers under rules to come into force next year, a regulator has confirmed.
The requirements for banks and other payment companies unveiled by the Payments Systems Regulator (PSR) are designed to ensure more consumers will get a refund if they fall victim to the phenomenon, known as authorised push payment fraud.
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