People who have been tricked into transferring money to scammers will be able to receive up to £415,000 back per claim under new fraud reimbursal requirements coming into force next year, a regulator has confirmed.

The Payment Systems Regulator (PSR) outlined the new consumer protections against authorised push payment (APP) fraud, which will come into force from 7 October 2024.

https://www.cityam.com/banks-to-reimburse-up-to-415000-per-app-fraud-claim-regulator-confirms/