The Authorised Push Payments (APP) Scams Steering Group was established by the Payment Systems Regulator in February 2018 to lead the development of an industry code for the reimbursement of victims of authorised push payment scams.
The Steering Group is compromised of representatives from the payments industry and consumer organisations, as well as observers from regulators, government and law enforcement. It is led by an independent chair, Ruth Evans, who was appointed by the Payment Systems Regulator (PSR).
The Steering Group’s aims
The overall objectives of the Steering Group, as set out in the PSR’s Outcome of consultation on the development of a contingent reimbursement model, are to:
- Reach a consensus on the key issues of the contingent reimbursement model;
- Formalise the agreed position on these issues into a set of rules, which will form an interim industry code for the reimbursement of APP scam victims.
The Steering Group will issue the interim code for public consultation by the end of September 2018.
After consulting publicly on the interim code, the Steering Group will make any necessary amendments and issue the final code in early 2019.