The Payment Services (Amendment) Regulations 2024
A final draft of legislation to slow down payments processing when there are reasonable grounds to suspect fraud or dishonesty.
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The Government is today publishing the final draft of legislation that will allow payment service providers to slow down the processing of outbound payments when there are reasonable grounds to suspect fraud or dishonesty. This will support efforts to tackle authorised push payment fraud, where victims are unknowingly tricked into sending significant sums to fraudsters.
This legislation will be laid before parliament shortly after its return from conference recess.