APP Fraud Guide

APP fraud, where victims are tricked into making payments to fraudsters, is a growing threat in the financial sector.

This document provides an in-depth look at how to protect against these scams, outlining the crucial role of the account holder as the first line of defence.

It details the proactive measures BCB Group takes to combat fraud, including robust client due diligence, AI-powered transaction monitoring, and industry collaboration.

The information also covers the new UK Payment Systems Reimbursement Regime, explaining who is covered, the types of payments eligible for reimbursement, claim limits, and the shared liability between sending and receiving banks, offering a comprehensive guide for minimizing risk and understanding new protections.

APP Fraud-pdf