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54 Results from /payments, "UK Finance"

Over £1bn stolen by fraudsters in 2024 - UK Finance

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Over £1bn stolen by fraudsters in 2024 - UK Finance

Criminals stole £1.17 billion through fraud in the UK last year, with a slight fall in authorised push payment fraud losses offset by a rise in remote purchase fraud.

Banks and mobile operators collaborate on Scam Signal for detecting APP fraud

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Banks and mobile operators collaborate on Scam Signal for detecting APP fraud

GSMA and UK Finance have joined forces to provide a collaborative framework for the UK’s mobile network operators and banks to develop and launch Scam Signal, a new system to help address Authorised Push Payment (APP) fraud in the UK.

19% consumer and retail fraud increase in England and Wales reports ONS

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19% consumer and retail fraud increase in England and Wales reports ONS

The Office of National Statistics (ONS) has reported there were approximately 3.6 million consumer and retail fraud incidents in 2024, a 19% rise for the same period in 2023.

UK banks hail Regulated Liability Network experiments

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UK banks hail Regulated Liability Network experiments

The UK's biggest banks have completed the experimentation phase of a Regulated Liability Network, claiming a number of benefits that the financial market infrastructure for programmable money operating on a multi-bank shared ledger could bring.

PSR stands firm over reimbursement model for APP fraud

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PSR stands firm over reimbursement model for APP fraud

As the banking industry chafes against upcoming rules governing payback to victims of authorised push payment fraud, the Payment Systems Regulator has released new data which shows that reimbursement for victims still depends largely on who they bank with.

Third of Brits now use mobile contactless payments

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Third of Brits now use mobile contactless payments

The total number of payments made in the UK increased by five per cent in 2023 with a third of Brits now regularly paying with a tap of their mobile phone, according to UK Finance figures.

Next UK government should make Big Tech pay to fight scams - UK Finance

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Next UK government should make Big Tech pay to fight scams - UK Finance

The next UK government should introduce a bill that forces technology, social media and telecoms firms to contribute £40 million a year to fight fraud and scams, says UK Finance.

UK bank fraud losses topped £1 billion last year

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UK bank fraud losses topped £1 billion last year

Fraud losses in the UK dropped by four percent in 2023, but still topped the £1 billion high watermarket.

UK Finance develops model clauses for variable recurring payments

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UK Finance develops model clauses for variable recurring payments

UK Finance has teamed up with law firm Addleshaw Goddard to put together a set of model clauses that bank account providers and PSPs can use in variable recurring payments (VRPs).

UK moves to experimentation phase of Regulated Liability Network

/payments

UK moves to experimentation phase of Regulated Liability Network

The UK's biggest banks are pushing ahead with the experimentation phase of a Regulated Liability Network, a financial market infrastructure for programmable money operating on a multi-bank shared ledger.

UK to test Regulated Liability Network concept for retail payments

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UK to test Regulated Liability Network concept for retail payments

The UK is to push ahead with a proof-of-concept on the development of a Regulated Liability Network, a financial market infrastructure for programmable money operating on a multi-bank shared ledger.

UK Finance baulks at proposed £20,000 upper limit for future Britcoin

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UK Finance baulks at proposed £20,000 upper limit for future Britcoin

UK Finance, the collective voice for the UK banking and finance industry, has clashed with the bank of England on the proposed £10,000 to £20,000 ceiling on individual holdings in a future central bank digital currency, arguing that such a limit could result in a run on bank deposits.

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