Top banking industry groups have backed lawmakers’ recommendation for the UK government to compel all payment service providers (PSPs) to reimburse innocent fraud victims.
The Treasury Select Committee last week said that the government should legislate the Contingent Reimbursement Model (CRM) code, which governs how fraud victims should be reimbursed for fraudulent payments and is currently voluntary.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.