The regulator plans to launch a consultation in April 2025 seeking views on regulatory requirements for Pay.UK’s reimbursement claims management system (RCMS) for APP scam claim management and data reporting;
The requirements will aim to promote consistency across claims management and reporting supported by a centralised system implemented by Pay.UK; and
RCMS requirements could be introduced in late 2025 at the earliest, with the potential implementation date being one of the aspects that will be covered in the upcoming consultation.
✅ Firms should ensure their APP fraud prevention controls are robust and can prepare to respond to the PSR’s upcoming consultation in April 2025.
Fraud
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