PSR publishes cycle 2 APP fraud reporting guidance

PSR has published its finalised reporting guidance for firms required to provide it with APP scam data, the second batch of which will cover the calendar year 2023.  This cycle will be a 12 month report, rather than the originally planned six-monthly reports, not least because of the complexities involved in validating and processing data, and the time firms will be needing to prepare for the mandatory reimbursement requirement.  PSR has also made some changes to the reporting form. The deadline for the initial submission of data covering 2023 is 16 February 2024.

Emma Radmore