( August 1, 2024, 08:47 GMT | Official Statement) -- MLex Summary: Allied Irish Banks has been named the worst at reimbursing victims of Authorized Push Payment fraud in the UK, with only 9 percent of fraud losses reimbursed, according to data published today by the Payment Systems Regulator. Danske Bank and Monzo also scored poorly, with 13 percent and 17 percent respectively. TSB refunded 88 percent of the total value that customers lost. APP fraud happens when a scammer tricks someone into sending a payment to their account. In 2023, 67 percent of money lost to scams was reimbursed, up from 61 percent in 2022. A total of 341 million pounds was lost to APP fraud in 2023, down 12 percent on the previous year.The document is attached. ...
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