Navigating the Landscape of APP Fraud Reporting Challenges
Amidst the escalating battle against Authorised Push Payment (APP) fraud, a critical focus emerges— the challenges Payment Service Providers (PSPs) face in reporting such incidents. As the 2024 reimbursement requirement looms, effective communication between sending and receiving firms becomes paramount. This blog scrutinises current hurdles in APP fraud reporting, including communication difficulties, inconsistent approaches in defining fraud scope, varying customer outcomes, receiving fraud data discrepancies, and challenges in applying new requirements.