Esther Phillips’ Post

Yesterday, the new APP fraud reimbursement rules came into effect. This change is significant both financially and practically, and it may directly impact your role. Our recent article provides an overview of the new rules and who they affect. In this piece, we aim to help you prepare for the claims that Payment Service Providers (PSPs) might face, offering practical suggestions and solutions. ➡️ For more insights to help you plan for what's next, read the full article: https://lnkd.in/evpGrVER Our Tenet team would be happy to arrange an initial meeting to better understand your business and explore how we can support you moving forward: https://lnkd.in/ecwF987H #TenetArticle #FraudPrevention #APPFraud

Our Managing Director, Bernadine Reese weighs in on FS Tech about the PSR’s latest APP reimbursement scheme, compelling UK financial bodies to refund victims of APP fraud. This move ensures swift redressal and drives PSPs towards innovative fraud prevention. Bernadine underscores the importance of PSPs embracing collaboration and regulatory vigilance in this evolving framework. For a deeper dive into how these changes impact consumer protection, read the full article on FS Tech. https://lnkd.in/epPxuzzw #ProtivitiInNews #PSR #ConsumerProtection #FinancialServices #RegulatoryInsights https://bit.ly/4f7Ckn8

🚨 Are You Ready for New APP Fraud Reimbursement Regulations! 🚨 Hi, I'm Victoria W. from BeyondFS. Let's take a walk together through an 8 week roadmap to get you safely to 7th October, when the rules go live! For the full roadmap, click the link in this post. 📥 https://lnkd.in/d-cRJi3m And if you need some help – get in touch! #APPFraud #FinancialCrime #RegulatoryCompliance

Our Managing Director, Bernadine Reese weighs in on FS Tech about the PSR’s latest APP reimbursement scheme, compelling UK financial bodies to refund victims of APP fraud. This move ensures swift redressal and drives PSPs towards innovative fraud prevention. Bernadine underscores the importance of PSPs embracing collaboration and regulatory vigilance in this evolving framework. For a deeper dive into how these changes impact consumer protection, read the full article on FS Tech. https://lnkd.in/epPxuzzw #ProtivitiInNews #PSR #ConsumerProtection #FinancialServices #RegulatoryInsights https://bit.ly/4dQHOSc

Our Managing Director, Bernadine Reese weighs in on FS Tech about the PSR’s latest APP reimbursement scheme, compelling UK financial bodies to refund victims of APP fraud. This move ensures swift redressal and drives PSPs towards innovative fraud prevention. Bernadine underscores the importance of PSPs embracing collaboration and regulatory vigilance in this evolving framework. For a deeper dive into how these changes impact consumer protection, read the full article on FS Tech. https://lnkd.in/epPxuzzw #ProtivitiInNews #PSR #ConsumerProtection #FinancialServices #RegulatoryInsights https://bit.ly/3NsSfRd

While opening my laptop and having my morning coffee when working from home this morning, big news mentioned by the BBC caught my attention. The newest PSR (Payment Systems Regulator) regulation will come into effect as of October 7th, dropping the maximum reimbursement limit on APP fraud from £415k to £85k. However, consumers are still being hit by scams extensively, with 4752 APP scam cases reported in a recent month 😱 (more on the stats from the BBC breakfast here: https://lnkd.in/dR2Y_V58). My question to my network of customers that we serve is, are you ready for the impact of the changes in regulations and doing your best to keep your business and consumers safe from scams? Do you want to do more? We strive to work together to protect customers whether businesses and consumers alike from the growing concern and impact of scams. You can learn more here: https://lnkd.in/eiMRmRDt #mastercard #scamprotect

Our Managing Director, Bernadine Reese weighs in on FS Tech about the PSR’s latest APP reimbursement scheme, compelling UK financial bodies to refund victims of APP fraud. This move ensures swift redressal and drives PSPs towards innovative fraud prevention. Bernadine underscores the importance of PSPs embracing collaboration and regulatory vigilance in this evolving framework. For a deeper dive into how these changes impact consumer protection, read the full article on FS Tech. https://lnkd.in/epPxuzzw #ProtivitiInNews #PSR #ConsumerProtection #FinancialServices #RegulatoryInsights https://bit.ly/4eQ3TSo

With increasing numbers of people finding themselves a victim of Authorised Push Payment fraud (“APP”), the impact is increasingly being felt by both consumers and Payment Service Providers (“PSPs”). APP is the largest type of fraud in the UK both by victim and value of losses. It is also exponentially growing and showing no signs of stopping. Read the full article and view case studies of what is defined as “gross negligence”: https://lnkd.in/eqcA3AED

Authorised Push Payment Fraud (APP) reimbursement scheme – is this good news for consumers or an opportunity for fraudsters?   In an effort to combat the rise of APP, a reimbursement scheme was introduced by the Payment Systems Regulator and became mandatory on 7 October 2024.   There is concern however that the compensation scheme itself might be the victim of fraudsters.   Will Thompson and Leigh Callaway summarise the scheme & discuss what this could mean for consumers: https://lnkd.in/eyDYbNaf

🚨 Watch Out for Sale Scams! 🚨 Scammers are using mobile payment apps to deceive people into paying for items that never arrive. Whether it's tickets, pets, or other goods, they take your money without delivering. Always be skeptical of too-good-to-be-true deals, especially from unknown sellers. If you suspect you’ve been tricked, contact your bank or payment service immediately to report the issue. Don’t forget, you can also file a complaint with the FBI’s Internet Crime Complaint Center at www.ic3.gov. Protect yourself by staying informed and cautious. #FraudFriday #OnlineShoppingSafety #ConsumerProtection