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Responding to the publication of the consultation responses by the Authorised Push Payments Steering Group on its draft Voluntary Code, Stephen Jones, Chief Executive of UK Finance said:
?The finance industry is committed to ensuring consumers are better protected from the threat of authorised push payment scams, stopping money going to criminals and supporting customers if they become victims. The Voluntary Code will be an important part of this and so it is vital that we get it right. The industry, consumer groups and the regulator are working hard together to deliver a Code which sets out clear requirements for consumer protection and the principles for reimbursement.
?At the same time, banks continue to fight fraud on every front - investing in advanced security systems and new ways to track stolen funds, assisting law enforcement in tackling the criminals and supporting the government in improving how intelligence is shared.?
Background
The finance industry is tackling authorised and unauthorised fraud by:
<p><span style="display: inline !important; float: none; background-color: transparent; color: rgb(102, 102, 102); font-family: "Lato",sans-serif; font-size: 16px; font-size-adjust: none; font-stretch: 100%; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; line-height: 20px; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; -webkit-text-stroke-width: 0px; white-space: normal; word-spacing: 0px;">UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.</span></p>
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