Which? responds as Payment Systems Regulator announces details of APP fraud reimbursement requirements

Rocio Concha, Which? Director of Policy and Advocacy, said:

"Which? has led the campaign for a mandatory system of scam reimbursement since launching a landmark super-complaint seven years ago. Consumers are in desperate need of stronger protections, so it is very positive that the Payment Systems Regulator (PSR) is progressing with its plans for implementing mandatory reimbursement. This will make the UK the first country in the world to implement consistent standards to reimburse victims of APP fraud.

"However, an excess of £100 would mean almost a third of APP scams would not be eligible for reimbursement, unless the victim is vulnerable. The PSR must be prepared to change the level of the excess if, as a result of the decision, fraudsters start to focus their attention on lower-value fraud.”

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