PSR publishes notes and slides from APP scams conference call

Industry News | 06/04/20

The Payment Systems Regulator (PSR) has published notes and the slides from its 30 March 2020 conference call on authorised push payment (APP) scams. On the call, PSR Managing Director Chris Helmsley stressed that the application of the APP Scam Code in its current form is resulting in inconsistent and poor outcomes for consumers and that the industry must work with the Lending Standards Board and the Financial Ombudsman Service to improve outcomes under the Code as a matter of urgency. He further discussed reimbursement options for victims of no-blame APP scams, and possible improvements to these. The PSR is inviting comments on the meeting and intends to continue the dialogue with the participants.