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<p>The Government takes Authorised Push Payment (APP) fraud extremely seriously. Victims
and their families can suffer both serious financial and emotional harm and it is
right that industry takes the necessary steps to protect consumers.</p><p> </p><p>The
Payment Systems Regulator, which was set up by the Government in 2015, established
a steering group to develop a voluntary industry Code of good practice that set the
circumstances in which customers will be reimbursed if they fall victim to these kinds
of scam. The Code became effective on 28 May 2019.</p><p> </p><p>Pay.UK, under whom
the Faster Payments Scheme sits, have consulted on the Change Request, which would
introduce a levy on Faster Payments transactions for the reimbursement of victims
in the long-term. The final decision sits with Pay.UK and it would not be appropriate
for the Government to comment on the specifics of this proposal.</p>
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