One year after its implementation on 7 October 2024, the PSR has reflected on the impact of the APP reimbursement requirement.
The latest figures show that in the first nine months following implementation:
- £112m was reimbursed to victims;
- 97% of claims were resolved in 35 days and 84% of claims were resolved within 5 business days; and
- Claim volumes are down approximately 15% against the same period the year before, demonstrating that firms are proactively addressing fraud in response to the requirement.