APP fraud: Mid-year review
Six months into APP scam reimbursement rules, 86% of victims are refunded—yet calls grow for a cross-sector, prevention-first fraud strategy.
June 16, 2025
Six months into APP scam reimbursement rules, 86% of victims are refunded—yet calls grow for a cross-sector, prevention-first fraud strategy.
A new Payments Association consumer behaviour survey reveals UK consumers’ payment habits in 2025, highlighting growing digital use, persistent cash reliance, and a strong focus on security.
This report presents data-driven insights from a major industry survey, highlighting the key trends, risks, and priorities shaping payments in 2025.
Fintech automation brings speed and innovation, but system failures, outages, and over-reliance highlight the need for strong oversight and planning.
The PSR’s upcoming consultation on the Reimbursement Claims Management System (RCMS) explores if and when its adoption should be mandated for payment firms.
With fraud evolving faster than security, banks must embrace risk-based authentication or risk falling behind.
The Economic Crime and Corporate Transparency Act 2023 holds businesses accountable for fraud unless they prove strong prevention measures.
APP scams cost UK victims over £340 million in 2023, exposing systemic vulnerabilities and the urgent need for stronger fraud prevention and collaboration.
Choosing between building and buying systems is key as financial institutions face escalating financial crime challenges.
New fraud data highlights growing threats and the need for stronger defences ahead of regulatory changes.
The PSR’s new refund rules strengthen fraud protection, but concerns remain over the reduced compensation cap and evolving scam tactics.
New rules mandate automatic reimbursement for APP fraud victims, raising concerns about industry costs and fraud exploitation.
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