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980130
star this property registered interest false more like this
star this property date less than 2018-10-01more like thismore than 2018-10-01
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury more like this
star this property hansard heading Electronic Funds Transfer: Fraud remove filter
star this property house id 2 more like this
star this property legislature
25277
unstar this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to ensure that funds obtained by authorised push payment fraud are traced and recovered. more like this
star this property tabling member printed
Lord Chadlington more like this
star this property uin HL10399 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The Government takes all fraud extremely seriously and recognises the harm that authorised push payment scams can cause. The Government has created the Joint Fraud Taskforce, which brings together government, the banks and law enforcement to develop a collective response to fraud. The objectives of the Taskforce are to protect the public and businesses from fraud, reduce the impact of fraud on victims, and increase the disruption and prosecution of fraudsters.</p><p> </p><p>Furthermore, the government has established the Payment Systems Regulator (PSR) with a statutory objective to ensure that the UK’s payment systems work in the interests of their users. The PSR has convened an Authorised Push Payment (APP) Scams Steering Group, made up of an equal number of both industry and consumer group representatives. On 28 September 2018 this steering group published a draft voluntary code which sets out the circumstances in which payment services providers (e.g. banks) would be responsible for reimbursing APP fraud victims who have acted appropriately. This draft voluntary code is an important step forwards towards better and more consistent protection for consumers and standards for industry.</p><p> </p>
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-10-16T12:35:02.72Zmore like thismore than 2018-10-16T12:35:02.72Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
3318
star this property label Biography information for Lord Chadlington more like this