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Responding to the Payment Systems Regulator's (PSR) publication of the outcome of its consultation on authorised push payment scams, Katy Worobec, Managing Director of Economic Crime at UK Finance, said:
?Tackling fraud and scams is the number one priority for the finance industry, and we successfully prevent more than £6 in £10 of attempted fraud. We have also introduced new standards on how banks respond to victims of authorised transfer scams. However we know there is always more to do, which is why we are working with the Joint Fraud Taskforce to deter and disrupt criminals and better trace, freeze and return stolen funds.
?This is a complex piece of work, with a challenging timeline, that we need to get right. As secretariat for the PSR's new steering group, and alongside the independent Chair, consumer groups and the broader payments industry, we will support the development of its proposals for a code.?
Notes to Editor