Firms should strengthen anti-fraud systems and must treat victims of fraud better, review finds

In late 2023, the FCA published a critical review of how payment service providers manage fraud and support victims, particularly in cases of Authorised Push Payment (APP) fraud. With over 116,000 people falling victim to these scams in the first half of 2023 alone, the regulator expressed significant disappointment in the inconsistent treatment of consumers.

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