Regulatory Alerts2018-06-25
Added · Updated
PS18/22: Authorised push payment fraud – extending the jurisdiction of the Financial Ombudsman Service
The Financial Conduct Authority requires payment service providers to handle complaints regarding alleged authorised push payment fraud and misdirected payments in accordance with the Dispute Resolution: Complaints sourcebook. These complaints are brought within the compulsory and voluntary jurisdiction of the Financial Ombudsman Service. The rules for authorised push payment fraud take effect on 31 January 2019, while the rules for misdirected payments take effect on 14 December 2018 and apply to acts or omissions from 13 January 2018.