Member

I now turn to Amendment 19, tabled by the noble Lord, Lord Vaux, on the publication of authorised push payment fraud performance data. This amendment was also debated in Committee. The Government agree that transparency over firms’ performance in preventing authorised push payment fraud is important. The Payment Systems Regulator previously published data on the performance of individual payment service providers, including on where fraud originated. However, the Government do not consider that a specific annual reporting requirement needs to be set in legislation. Following the consolidation of the Payment Systems Regulator, the FCA will have the powers and flexibility to determine the most appropriate approach to the publication of fraud performance data, adopting reporting to developments, available data and the wider authorised push payment fraud framework.