UK Publishes Near Final Payment Services Amendment Regulations 2024

As part of its ongoing Fraud Strategy, the government committed to exploring whether to allow payment service providers, such as banks, more time to investigate suspicious payments to help tackle authorised push payment APP fraud.

The legislation is designed to slow down payments processing when there are reasonable grounds to suspect fraud.

The government is publishing the draft legislation for technical checks and welcomes comments on by 12 April 2024. The government intends to lay the legislation before parliament in summer 2024.