One year on from mandatory reimbursement, the first independent evaluation of the UK's authorised push payment fraud regime is in. In-scope scam losses over Faster Payments fell by around 21%, about £73 million a year, and victims are now reimbursed far more often. Beneath the headline. The net benefit is slim and narrows once displaced international fraud is counted, performance varies widely between firms, and fraud is shifting to channels the rule does not reach. This episode tests whether the regime is delivering, what it is costing smaller firms, and what payment firms should push for before the PSR consults on changes in December.
