Authorised Push Payment Fraud
APP Fraud costs the UK economy billions of pounds each year, impacting individuals and businesses nationwide. While consumers, regulators and the banking industry have made huge progress in tackling banking fraud in recent years, there is more that needs to be done.
In response to this issue, the APPG has produced a report investigating APP Fraud, considering its scale, impact and the efficacy of APP Fraud regulation.
APP Fraud is a fast-evolving form of financial crime. With the introduction of the Mandatory Reimbursement Requirement (MRR), the UK has taken an important step to protect victims, but gaps remain.
This report assesses MRR’s early impact and sets out practical recommendations to inform the Government’s updated Fraud Strategy. It calls for a holistic approach that shares responsibility across sectors and builds long-term resilience.