Which? responds to Payment Systems Regulator publishing APP scam reimbursement rates by bank

Rocio Concha, Which? Director of Policy and Advocacy, said: 

"These figures confirm what we have long suspected - that some firms would prefer to point the finger at blameless victims than take responsibility for customers losing money at the hands of sophisticated fraudsters. 

"It is good that these figures are now public. Regularly publishing APP fraud reimbursement rates should help to ensure the worst performers raise their game when it comes to both the prevention of APP scams and the treatment of victims afterwards. 

"Having made several positive steps in the fightback against APP fraud, there must be no further delay to the implementation of new mandatory reimbursement rules. The regulator must also abandon its proposals to introduce an unjustifiably high excess, which means a huge number of consumers will not benefit from this mandatory protection.

"Which? led the campaign for scams to be included in the Online Safety Act, which should ensure that tech giants will be held accountable for scams originating on their platforms - potentially facing huge fines if they are failing to meet their obligations to shut out fraudsters."

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