Payment firms must reimburse victims of authorised push payment scams up to £85,000, split 50:50 between sending and receiving firms, unless the customer was grossly negligent.
Key points
- A 2026 PSR evaluation found reimbursement by value rose from 54% to 65% of confirmed losses.
- Out-of-scope international APP scams rose from £21m (2023) to £60m (2025), suggesting displacement.
- Oversight of the regime is moving to the FCA, with a consultation expected in December 2026.
What firms should do
Map the requirements to your controls, assign an owner, and track deadlines in your compliance calendar. Pro members get a detailed implementation checklist.