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Answers to frequently asked questions relating to banking, credit, mortgages, investments and financial service fraud.
Answers to frequently asked questions relating to banking, credit, mortgages, investments and financial service fraud.
To ask the Secretary of State for the Home Department, what steps she is taking to tackle Authorised Push Payment fraud occurring (a) online or (b) on telecoms networks.
To ask the Secretary of State for the Home Department, what steps she is taking to tackle Authorised Push Payment fraud occurring (a) online or (b) on telecoms networks.
Through the Fraud Strategy 2026-29, the Government is working with industry, regulators and law enforcement to prevent criminals exploiting online platforms and telecommunications networks to commit fraud.
The Government designated fraud an illegal harm under the Online Safety Act, and since March 2025 in-scope platforms have been required to maintain robust systems to prevent and remove fraudulent content. In July, Ofcom have also set out their proposed measures for the largest social media and search services to adopt to tackle fraudulent paid adverts.
We have established the new Online Crime Centre, backed by over £30 million of investment, bringing together law enforcement, Government, GCHQ and industry partners to identify and disrupt the technological enablers of fraud.
We are also working with industry to improve transparency, accountability and performance in tackling fraud.
In November 2025, we launched the second Telecoms Fraud Charter, containing over 50 actions to identify, prevent and disrupt telecoms-enabled fraud. This includes preventing criminals reaching users through effective data sharing between telecom providers and the banking sector.
The Government also legislated through the Crime and Policing Act 2026 to ban SIM farms, which are commonly used to send scam texts at scale, and continues to work with Ofcom and industry to tackle number spoofing and scam calls.
What cryptoassets are, how they work, their history, the benefits and risks, and UK regulation.
What cryptoassets are, how they work, their history, the benefits and risks, and UK regulation.
This briefing covers the scale of banking fraud, how the police respond to fraud, and what the public and private sectors are doing to reduce the impact of banking fraud.
This briefing covers the scale of banking fraud, how the police respond to fraud, and what the public and private sectors are doing to reduce the impact of banking fraud.
To ask the Secretary of State for Business and Trade, what steps the Department is taking to ensure that the design of the UK’s electronic invoicing regime minimises costs and administrative burdens for small businesses.
To ask the Secretary of State for Business and Trade, what steps the Department is taking to ensure that the design of the UK’s electronic invoicing regime minimises costs and administrative burdens for small businesses.
Electronic invoicing, or e-invoicing, will become mandatory for VAT transactions from April 2029. E-invoicing will help business productivity and efficiency, reduce late payments and streamline tax administration.
DBT and HMRC ran a consultation between February and May 2025 to gather views on e-invoicing from a wide range of stakeholders, including small businesses and business representative organisations.
We are now working collaboratively to co-design e-invoicing policy, including with business representative organisations and accountancy and bookkeeping networks who champion small business interests.
The government will publish an Implementation Roadmap at Budget 2026 to update on progress and set out key milestones ahead of the mandate.
Letter dated 30/06/2026 from Lord Stockwood of Great Grimsby and Cleethorpes to Baroness Neville-Rolfe and Baroness Kramer regarding questions raised during the Committee stage (first day) of the Financial Services and Markets Bill: shared liability for Authorised Push Payment (APP) fraud across the wider ecosystem, greater transparency on APP fraud performance, discussions with technology platforms about fraud originating on their services and what more technology firms should be required to do, stronger incentives to online platforms to prevent fraud, plans to introduce legislation. 4p.
Letter dated 30/06/2026 from Lord Stockwood of Great Grimsby and Cleethorpes to Baroness Neville-Rolfe and Baroness Kramer regarding questions raised during the Committee stage (first day) of the Financial Services and Markets Bill: shared liability for Authorised Push Payment (APP) fraud across the wider ecosystem, greater transparency on APP fraud...
Motion to consider. Agreed to on question.
Motion to consider. Agreed to on question.
To ask the Chancellor of the Exchequer, what recent assessment her Department has made of the adequacy of regulatory protections for victims of fraud, particularly in cases involving (a) card and (b) authorised push payments.
To ask the Chancellor of the Exchequer, what recent assessment her Department has made of the adequacy of regulatory protections for victims of fraud, particularly in cases involving (a) card and (b) authorised push payments.
The Government takes the issue of fraud very seriously and is dedicated to protecting the public from this appalling crime. In March 2026 the Government published a new Fraud Strategy, setting out a comprehensive approach to cutting fraud by disrupting criminal infrastructure, safeguarding vulnerable people and improving the system wide response to harm.
To protect consumers, the Payment Systems Regulator (PSR) has introduced a mandatory reimbursement regime for Authorised Push Payment (APP) scams taking place over the Faster Payment system. This came into force on 7 October 2024. The PSR has publicly committed to reviewing the impact and effectiveness of its APP reimbursement regime and has commissioned an independent review of its rules. APP scams which take place over the CHAPS payment system are also in scope of reimbursement.
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Where unauthorised fraud takes place involving a card, consumers are protected by the Payment Services Regulations 2017, which require payment service providers to refund unauthorised transactions unless the firm can show the customer acted fraudulently or with gross negligence.
Commercial card scheme rules allow both debit and credit cardholders to request a refund through their card issuer (e.g., their bank or credit card provider) in certain circumstances as provided for in the scheme rules, which may include, for example, cases of fraud.
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of consumer protection and reimbursement for victims of authorised push payment and investment frauds that occurred before 7 October 2024.
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of consumer protection and reimbursement for victims of authorised push payment and investment frauds that occurred before 7 October 2024.
To ask His Majesty's Government what assessment they have made of the potential use of AI in bank payment systems to prevent fraud; and what steps they are taking to ensure that safeguards and consumer protections are effective for the deployment of AI in payment systems.
To ask His Majesty's Government what assessment they have made of the potential use of AI in bank payment systems to prevent fraud; and what steps they are taking to ensure that safeguards and consumer protections are effective for the deployment of AI in payment systems.
HM Treasury works closely with the UK financial regulators to monitor evolving risks from new technologies, and ensure that the opportunities AI presents can be realised in a safe and responsible way.
The government is engaging closely with the FCA on AI, and we support the approach the FCA is taking to encourage the safe adoption of AI in financial services. This includes several initiatives to support the safe adoption of AI, including the supercharged sandbox which enables firms to safely experiment with AI innovations.
The financial services sector has also been developing AI tools which can be used to detect and prevent fraud. These include HSBC’s pilot with Google to use AI to support financial crime detection. and Mastercard’s use of AI to identify and flag APP scams.
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the July 2019 implementation date of the Contingent Reimbursement Model Code on victims of authorised push payment scams that occurred before that date; and whether she plans to review redress mechanisms to...
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the July 2019 implementation date of the Contingent Reimbursement Model Code on victims of authorised push payment scams that occurred before that date; and whether she plans to review redress mechanisms to...
The Government takes the issue of fraud very seriously and is dedicated to protecting the public from this appalling crime. To protect consumers, under the Financial Services and Markets Act 2023, the Payment Systems Regulator (PSR) has introduced a mandatory reimbursement regime for Authorised Push Payment (APP) scams taking place over the Faster Payment system. This came into force on 7 October 2024. The details of the APP reimbursement regime are a matter for the independent PSR.
Transactions that occurred before 7 October 2024, may be governed by the Contingent Reimbursement Model (CRM), a voluntary code signed by the UK’s largest banks and building societies that came into force in May 2019. However, it is important to note that not all banks or building societies are party to the CRM code. The CRM code is overseen by the Lending Standards Board and more information can be found on their website.
Lords committee stage eighth day. Schedule 11 agreed to. (Part 2 of 2).
Lords committee stage eighth day. Schedule 11 agreed to. (Part 2 of 2).
Moved by
Lord Vaux of Harrowden
367: After Clause 117, insert the following new Clause—
“Technology and telecommunications companies’ liability for APP fraud reimbursement
Within six months of the day on which this Act is passed, the Secretary of State must prepare and publish a report, and lay it before Parliament, setting out proposals...
Moved by
Lord Vaux of Harrowden
367: After Clause 117, insert the following new Clause—
“Technology and telecommunications companies’ liability for APP fraud reimbursement
Within six months of the day on which this Act is passed, the Secretary of State must prepare and publish a report, and lay it before Parliament, setting out proposals...