Banks could see UK payments regulator require data sharing
By Phoebe Seers ( December 23, 2024, 09:37 GMT | Insight) -- The failure of UK banks and other payments firms to cooperate with each other against scammers could lead to a regulatory requirement to share data, the head of policy at the payments regulator told MLex. The Payment Systems Regulator is considering rules that would require an exchange of information when a payment is being made on how long an account had been open for, and whether transaction flows through it look normal, Kate Fitzgerald said in an interview. The failure of UK banks and other payments firms to cooperate with each other against scammers could lead to more regulatory changes in the UK....
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