In 2015 the Government established the Payment Systems Regulator (PSR) to ensure that payment systems work well for those that use them.<\/p>
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Following Which?\u2019s super-complaint about Authorised Push Payment (APP) Scams last year, the PSR has developed a programme of work to better protect consumers and increase awareness of payment scams. The banking industry will lead on the following work:<\/p>
<\/p>
\u2022 Developing, collecting and publishing scam statistics to address the lack of clear data on the scale and scope of the problems, and to enable monitoring over time.<\/p>
\u2022 Developing a common approach or best practice standards that banks should follow when responding to reported APP scams.<\/p>
\u2022 Developing a common understanding of what information can be shared under the current law and any key legal barriers to sharing further information, liaising with the Information Commissioner\u2019s Office as appropriate.<\/p>
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The PSR will monitor this work and review industry progress in the second half of 2017.<\/p>
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The PSR is also undertaking work to consider the potential for operators of the Faster Payments and CHAPS payment systems to play an expanded role in helping to minimise the consumer harm caused by APP scams.<\/p>
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In addition to this, the PSR has recognised the benefits that enhanced assurance data could bring in this space, and is currently undertaking work on a possible \u2018Confirmation of Payee\u2019 solution, whereby entering the account details would bring up the name of the account holder.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3929", "label" : {"_value" : "Biography information for Simon Kirby"} } , "answeringMemberConstituency" : {"_value" : "Brighton, Kemptown"} , "answeringMemberPrinted" : {"_value" : "Simon Kirby"} , "dateOfAnswer" : {"_value" : "2017-03-01", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2017-03-01T14:24:54.977Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2017-02-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Electronic Funds Transfer: Fraud"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what steps his Department is taking to tackle authorised push-payment scams.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4571", "label" : {"_value" : "Biography information for Gill Furniss"} } , "tablingMemberConstituency" : {"_value" : "Sheffield, Brightside and Hillsborough"} , "tablingMemberPrinted" : [{"_value" : "Gill Furniss"} ], "uin" : "65461"} , {"_about" : "http://data.parliament.uk/resources/694193", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/694193/answer", "answerText" : {"_value" : "
At Summer Budget 2015, the Government announced the introduction of a new \u2018residence nil rate band\u2019 for inheritance tax when a home is passed on death to a direct descendent. It will start at £100,000 in 2017-18, increasing in £25,000 increments to £175,000 in 2020-21. This, in addition to the existing nil rate band of £325,000, will increase the inheritance tax free threshold to £500,000 for many individuals, and up to £1 million for many married couples and civil partners by 2020-21.<\/p>
<\/p>
The latest estimates of the cost to the Exchequer of introducing the residence nil rate band from 2017-18 to 2020-21 are published in Table 2.2 of the Budget 2016 official publication at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508193/HMT_Budget_2016_Web_Accessible.pdf<\/a>.<\/p> <\/p> The next update to this publication is scheduled for 8 March 2017, following the Spring Budget 2017 announcements.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3918", "label" : {"_value" : "Biography information for Jane Ellison"}
}
, "answeringMemberConstituency" : {"_value" : "Battersea"}
, "answeringMemberPrinted" : {"_value" : "Jane Ellison"}
, "dateOfAnswer" : {"_value" : "2017-03-06", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-03-06T15:08:27.603Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2017-02-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Inheritance Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the cost to the Exchequer of lost revenue resulting from changes to inheritance tax thresholds announced in Budget 2015 in the (a) 2017-18, (b) 2018-19, (c) 2019-20 and (d) 2020-21 fiscal year.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4031", "label" : {"_value" : "Biography information for Rachel Reeves"}
}
, "tablingMemberConstituency" : {"_value" : "Leeds West"}
, "tablingMemberPrinted" : [{"_value" : "Rachel Reeves"}
], "uin" : "65490"}
, {"_about" : "http://data.parliament.uk/resources/694195", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/694195/answer", "answerText" : {"_value" : " Diversity data for Senior Civil Servants can be found on page 79 of the HM Treasury annual report and accounts 2015 to 2016. The report can be accessed at:<\/p>