Which? responds to regulator’s plans to protect victims of payment scams

Which? responds to the Payment Systems Regulator’s announcement on its reimbursement model for victims of authorised push payment (APP) scams.

Gareth Shaw, Which? Money Expert, said:

“The introduction of a steering group, that includes Which?, should help to ensure this much-needed reimbursement scheme properly compensates victims who have been left out of pocket through no fault of their own.

“While this vital scheme is welcome, the industry must also use other measures to better protect consumers at the point of transfer to stop such scams happening in the first place.”