FCA : Authorised push payment scams

12 Nov 2017 1:55 PM | Jo Buckley (Administrator)
APP scams are a crime that can have a devastating effect on the victims. They are the second biggest type of payment fraud now reported by UK Finance, in both the number and total value involved (behind card fraud). Push payments are payments where payment service providers (PSPs), which include banks, are instructed to transfer money from a customer’s account to another account. It is an ‘authorised’ push payment when the customer gives their consent for the payment to be made – this can include situations where the customer has been tricked into giving that consent

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