The Payment Systems Regulator (PSR) has published its first authorised push payment (APP) scams performance report.
The PSR published the data collected during 2022 from the UK’s 14 largest banking groups (directed firms) and nine smaller firms that were in the top 20 highest receivers of fraud (non-directed firms).
The data covers:
- The reimbursement of victims (from the largest 14 banking groups).
- How much money is sent from each payment firm as a result of APP fraud (from the largest 14 banking groups); and
- How much money is received by each payment firm as a result of APP fraud (all payment firms in the UK).