PSR Publishes APP Fraud Consultation Documents

The consultations are:

• CP 23/6: APP fraud: Excess and maximum reimbursement level for Faster Payments (“FPS”) and Clearing House Automated Payment System (“CHAPS”); and
• CP 23/7: APP fraud: The consumer standard of caution.

The consultations are relevant to the payments industry, consumer groups, payment service providers, and prospective qualifying customers who use Authorised Push Payments to send money and will be within scope of the policy, once implemented.