The LSB has responded to the Payment System Regulator’s (PSR) consultation around changes to the reimbursement cap in its proposed Authorised Push Payment (APP) fraud reimbursement framework. As governor of the Contingent Reimbursement Model (CRM) Code for APP Fraud, which does not put a cap on the amount reimbursed to a customer following a successful scam and also includes provisions on scam detection and prevention, we are concerned the new framework risks leaving many customers with fewer protections than they have now. Read the full response below.
LSB Consultation Response to PSR Consultation CP24-11
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