UK payments regulator consults on reduced cap for banks’ fraud coverage

PSR also publishes high-value APP scams review and consultation.

A reduced cap on the maximum liability banks face for fraud is being considered by the UK Payments Systems Regulator (PSR) and could be in place as early as October 7, 2024.

The PSR said in a statement that it has now considered additional evidence from the industry and FCA about the

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