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UK fraud rules led to refunds of GBP27 million in first three months

( May 15, 2025, 10:17 GMT | Official Statement) -- MLex Summary: UK fraud-reimbursement rules saw 86 percent of money lost to Authorized Push Payment fraud — totaling 27 million pounds (around $36 million) — returned to victims in the first three months since the policy took effect in October last year. In an update today, the Payment Systems Regulator also said there was no sharp increase in fraud being reported, as some had worried before the rules took effect. However, volumes of claims are steadily increasing each month. Only 2 percent of claims were rejected citing carelessness on the behalf of the consumer, the PSR said.Statement below....

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