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UK regulator mulling cut to fraud refund cap after industry pressure

By Frank Prenesti

Date: Wednesday 04 Sep 2024

(Sharecast News) - The UK's payments regulator has proposed slashing the maximum amount banks and fintechs would have to reimburse fraud victims after industry pressure to review the cap.
Under current rules laid down by the Payment Systems Regulator (PSR) banks and fintechs have to reimburse victims of authorised push payment...

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