Written Question·Treasury·UIN 197635
Electronic Funds Transfer: Fraud
Tabled: 4 September 2023
Answered: 11 September 2023
Question
Sarah Owen
Labour — Luton North
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of requiring all banks to sign up to the contingent reimbursement model code.
Answer
Andrew GriffithThe Government recognises the threat posed to consumers by Authorised Push Payment (APP) fraud, with sophisticated scams that can be detrimental to people’s lives.That is why the Government has legislated in the Financial Services & Markets Act 2023 to en...
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