Regulation tracker

UK APP scam mandatory reimbursement

Last updated

Status
In force
Jurisdiction
United Kingdom
Regulator
PSR (moving to FCA)
Key date
7 Oct 2024

Primary source: www.psr.org.uk ↗

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.


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