PSR Confirmation of Payee general directions - Which response

Which? welcomes the opportunity to respond to the Payment Systems Regulator’s (PSR)consultation on general directions on implementing Confirmation of Payee. Which? strongly supports the PSR’s proposals. We have long called for the widespread adoption of Confirmation of Payee by banks and other payment service providers to help detect and prevent authorised push payment scams. We have been disappointed that a voluntary approach has so far failed to introduce this much needed measure, so regulatory action is now required.