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      The owner of Ray-Ban has issued a warning. (Photo by Sergio Albert/Ray-Ban via Getty Images)

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      Premiership run-in: Saints and Bath will impact top four

      2Look at the Premiership table and you’ll see that the top team and Challenge Cup finalists Bath are 15 points clear of second-placed Leicester Tigers, and Champions Cup finalists Northampton Saints are 17 points safe from dropping out of the top eight.

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      Here We Are, National Theatre, review: Stephen Sondheim musical is more Severance than sing-a-long

      Rory Kinnear and Jane Krakowski lead the cast in Here We Are, the final show with music from the composer Stephen Sondheim (Photo: Marc Brenner)

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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Take 2 mins to learn more at www.coinbase.com/uk-fca-info

Payment Systems Regulator

  • UK launches world-first bank transfer fraud refund scheme

    Banking

    As of Monday, the Payment Systems Regulator is requiring more than 1,500 banks, fintechs and other payment firms to reimburse victims of authorised push payment fraud up to a limit of £85,000 per claim.

    The UK has become the only country to introduce this kind of mandatory fraud reimbursement regime.
  • Regulator confirms U-turn on maximum amount banks must refund fraud victims

    Banking

    The UK’s payments regulator has confirmed an last-minute U-turn on the maximum amount banks and fintechs will have to reimburse fraud victims under a new regime, after heavy industry lobbying and pressure from ministers.

    Executives had argued the measures threatened firms’ business models, particularly smaller fintechs more relatively exposed to fraud and with less capital to cover mandatory reimbursement. (Photo by Artur Widak/NurPhoto via Getty Images)
  • Cutting bank transfer fraud refund limit not enough, industry warns regulator

    Banking

    The UK’s payments regulator is under pressure to U-turn on a controversial fraud reimbursement scheme after confirming it would look at scaling back the measures.

    The expected U-turn marks a major victory for lobby groups that have been calling for an £85,000 threshold since a consultation published last August.
  • UK regulator set to cut fraud refund limit but sticks by deadline for controversial rules

    September 4, 2024

    The UK’s payments regulator is poised to lower the maximum amount banks and fintechs would have to reimburse fraud victims under a new regime, but stuck by its October implementation date despite mounting pressure. In their current form, new rules from the Payment Systems Regulator (PSR) are due to force banks and fintechs to reimburse [...]

  • Banks’ fraud loss coverage reportedly to drop to £85,000 after industry backlash

    September 3, 2024

    The maximum fraud losses banks are obliged to cover is set to drop to £85,000, down from a planned £415,000, according to a report.

  • Treasury and FCA worried by payments regulator’s fraud refund scheme

    August 22, 2024

    The government and City watchdog have raised concerns over a fraud refund scheme from the UK payments regulator that firms have warned could do long-lasting damage to the industry, City A.M. understands.

  • Exclusive: Criminals eye windfall from UK regulator’s controversial fraud refund plan

    August 16, 2024

    Criminals are making plans to exploit incoming fraud refund rules from the UK payments regulator, City A.M. has learnt, as banks and fintechs warn of harm to consumers if the measures come into force unaltered.

  • Treasury questions payments regulator on deadline for controversial fraud refund rules

    August 13, 2024

    The Treasury has reportedly raised questions with the UK payments regulator over the timetable for its new fraud refund rules that have stirred alarm among banks and fintechs.

  • UK payment firms urge next government to make tech giants refund fraud victims

    July 4, 2024

    The UK payments industry has issued an election-day plea for the next government to make tech giants liable for the reimbursement of fraud victims, in a bid to alter new rules placing the burden on the financial sector.

  • UK payment firms warn new fraud refund rules could ‘freeze’ systems in October

    June 26, 2024

    The UK’s payments watchdog is under growing pressure from the firms it regulates to rethink new fraud refund rules that industry chiefs say could wreak havoc for both companies and consumers.

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