Tag:payment service providers

1
Warning: UK Makes Reimbursing Customers Tricked into Authorizing Payments Mandatory

Warning: UK Makes Reimbursing Customers Tricked into Authorizing Payments Mandatory

By: Kai Zhang and Judie Rinearson

Authorized push payment frauds (APP fraud) happen where one is tricked into sending money to a fraudster posing as a genuine payee. Currently some protection is provided to UK victims via a voluntary industry code. However, this has been considered insufficient. So now a new mandatory reimbursement regime is coming, from 7 October 2024.

Read More

Copyright © 2024, K&L Gates LLP. All Rights Reserved.