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Payment firms see final reporting obligations under UK’s fraud reimbursement regime

( July 12, 2024, 10:15 GMT | Official Statement) -- MLex Summary: UK payment firms are required to register with Pay.UK by Aug. 20 so that it can effectively monitor and manage compliance with the fraud reimbursement regime. The Payment Systems Regulator published today its final policy on compliance and monitoring of reimbursement for scams. The start date for the reimbursement policy is Oct. 7, 2024. “It is crucial that payment service providers continue the work already underway to prepare and ensure they are ready to implement the requirements,” the regulator said in a statement.Policy statement is attached....

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