Challenger bank Monzo is among some of the UK’s best-known lenders who have still not signed up to a voluntary industry code to reimburse victims of spiralling push payment fraud.
An industry-funded anti-fraud unit in the UK has doubled its success in bringing down organised crime groups, preventing £6.8m of fraud in the first half of 2019, although the amount of actual...
Plans for a phased introduction of strong authentication are taking shape in the UK, with influential industry groups expected to ask regulators for a delay in enforcement of at least 18 months...
The Bank of England has announced plans to let non-bank payment firms hold reserves at the central bank, as well as enabling access to the country’s new real-time fund transfer infrastructure via...
The UK’s financial regulator has revealed details about its preparations for new EU rules on secure customer authentication (SCA) — confirming that the September deadline will have to be swept...
On June 12, 2019, UK Finance issued the UK Payments Market Summary 2019 report and announced that the banking and finance industry will commit to helping local communities ensure appropriate free...
The UK’s financial regulator has announced a long-awaited crackdown on the fees that financial institutions can charge customers when payments are declined due to insufficient funds.
Restricting the initial implementation of the UK’s anti-fraud name check system could distort the market and even help fraudsters better target their activities, the country’s finance industry...
The UK’s Payment Systems Regulator has opened a call for views on potential reforms to the way in which ATMs in the country are funded, as pressure grows for a more determined response to declining...
On June 4, 2019, UK Finance published a white paper titled “Perspectives - Operational resilience in financial services”, which was drafted in cooperation with Ernst & Young (EY), following...
The UK’s Financial Conduct Authority (FCA) has taken the first steps towards delaying controversial strong authentication reforms beyond September’s deadline, PaymentsCompliance can reveal.
Banks and other financial institutions are failing to grapple with the complex task of ensuring business with the commodities shipping sector does not lure them into the rocky shores of non...
The UK’s top consumer rights watchdog has issued a list of demands to banks and regulators over spiralling payment fraud just days before a voluntary industry reimbursement code is set to be...
The UK’s business register is coming under scrutiny for its role in enabling money laundering, with a consultation being launched on its overhaul as the government acknowledges the need for reform.
UK consumer complaints about credit cards continued to climb steadily in 2018, defying an overall drop in the number of grievances received by regulated financial institutions, new figures show.
On April 10, 2019, UK Finance released a report, jointly drafted with EY Financial Services, titled “Third-Party Risk Management: Keeping control in a rapidly changing world”, which recognises the...

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