FCA consults on proposals for tackling authorised push payment (APP) fraud, focusing on enabling a risk-based approach to payment processing

The UK has seen a significant increase in authorised push payment (APP) fraud. This is where someone is deceived into authorising a payment either: (i) to an account that they think belongs to a legitimate payee but is actually controlled by a fraudster, or (ii) for something they believed was legitimate but is actually fraudulent