⚠ 7th October 2024 = APP fraud reimbursements ⚠

The Payment Systems Regulator (PSR) has now confirmed that UK Authorised Push Payment (APP) Fraud reimbursements will come into force on 7th October 2024.

Key takeaways:
📆 Industry must comply from 7 October 2024
🔄 50:50 split between sending and receiving firms
💵 Maximum claim of £415,000
🚫 Optional claim excess of £100
👮‍♀‍ Legal instrument to implement reimbursements

How can FinCrime Dynamics help your firm get ready for APP fraud reimbursements?

🤖 FinCrime Dynamics helps firms reduce APP fraud losses by assessing weaknesses and building high performance AI defences using our library of fraud simulations and synthetic data.

PSR announcement here

About FinCrime Dynamics Ltd

FinCrime Dynamics Ltd provides the infrastructure to power forward looking and trustworthy AI in the fight against financial crime. Headquartered in Cambridge (UK), the company enables financial institutions to access the valuable data and intelligence resources to create high performance anti-financial crime AI solutions. FinCrime Dynamics software product, Synthetizor®, empowers users to generate financial crime simulations and custom synthetic data to train machine learning with confidence about model quality and typology coverage.