Webinar
In this session we will discuss the scourge of Authorised Push Payment (‘APP’) frauds, in which victims are tricked into making bank transfers to fraudsters posing as a legitimate payee, and how this continues to grow.
In the first half of 2021, losses due to APP frauds increased to £355.3 million, a 71% increase on the same period in the previous year, and surpassed payment card fraud for the first time. This has driven growing calls for banks and other payment services providers to offer greater protection to consumers against the consequences of APP fraud, going beyond the voluntary code for reimbursement which was introduced in May 2019 and to which a number of banks have voluntarily signed up.
In-house lawyers and compliance professionals, particularly within FS organisations.