09/21/2024

For the First Time, The Payments Association and We Fight Fraud Investigate APP Fraud Through the Eyes of the Victims, Criminals, and Affected Businesses

Fintech Finance News

The Payments Association, the most influential community in payments, and We Fight Fraud, an organisation that focuses on tackling financial crime, and supported by Cardaq, has released an investigative documentary exploring the potential impact of new authorised push payments (APP) legislation on consumers. It is also, crucially for the first time, exploring the new rules through the eyes of the criminal and how easily they will exploit them for their own ill-gotten gains.

‘The New APP Rules: What They Mean for Consumers, Fraudsters and the UK,’ is a groundbreaking documentary that conveys the human story of what the changes will mean when the UK’s Payments Systems Regulator’s (PSR) rules enter into force on October 7th.

It includes interviews with stakeholders, key experts, including directly from the PSR and, crucially, with an active criminal and a victim who was caught by a phishing scam. These insights provide a clear picture into what the proposed changes mean and how effective those that have committed fraud view the change and explores how they might further exploit the loophole.