Fireside chat: Understanding the impact of the recent PSR announcement
PSR announcement reinvigorates the debate on reimbursement cap
On September 4th the Payment System Regulator (PSR) made an announcement around the new mandatory APP fraud split reimbursement model due to go live on October 7th 2024.
Tune in as LexisNexis® Risk Solutions experts weigh in on:
What is included in the announcement and how does it impact regulated firms?
What is the human impact – how will the proposed changes affect consumers?
With the world watching, will monitoring inbound payments become the new standard in fraud protection globally?
What can we expect to see in the months following the PSR deadline as the industry settles into the new regulations?
What are the potential unintended consequences if the PSR reimbursement threshold is lowered and no longer aligns with the Financial Ombudsman Services compensation limit?
Will we see a drop in customer protection for high value fraud cases from larger firms that were already adopting the voluntary Contingency Reimbursement Model?
How will this impact firms’ risk appetite and will we see firms investing more in preventative fraud measures or accepting higher costs in reimbursement claims?
The opinions expressed here are those of the contributors and do not necessarily reflect the views of LexisNexis® Risk Solutions or its partners.
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