STEERING GROUP ON AUTHORISED PUSH PAYMENT (APP) SCAMS DRAFT CODE OF PTACICE

UK Finance on 28th September reported that this group, set up by the Payment Systems Regulator earlier this year, has published its draft Voluntary Code for consultation.  The code has been developed by representatives from consumer groups and the industry and is designed to help prevent APP scams and give customers better levels of protection.  Payment service providers could be required to delay suspect payments from online accounts, while consumers could be expected to have a clearer understanding that in some circumstances they will not receive compensation.  The consultation runs to 15th November.

https://www.aol.co.uk/news/2018/09/27/new-code-to-offer-help-to-consumers-tricked-into-fraudulent-mone/

See the consultation at –

https://appcrmsteeringgroup.uk/consultation/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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