Eyes on UK's world-first APP fraud refund scheme

The United Kingdom now requires both sending and receiving payment services firms to share reimbursement of qualifying domestic Authorised Push Payment frauds up to a maximum of UK£85,000 (US$107,275). Dan Wyatt and Chris Whitehouse of RPC discuss the expectations and exposure affecting these firms, along with potential negative and positive impacts of the regime.

Dan Wyatt (+44 20 3060 6585, dan.wyatt@rpclegal.com) is a partner at RPC and experienced commercial litigator with particular expertise in civil fraud and asset tracing, disputes relating to crypto and digital assets, along with complex shareholder, company, joint venture and partnership disputes. His colleague Chris Whitehouse (+44 20 3060 6000, christopher.whitehouse@rpclegal.com) is a senior associate who specialises in a wide range of commercial disputes with emphasis on high-value civil fraud, banking and financial services disputes, shareholder disputes and emerging technology disputes.

The United Kingdom now requires both sending and receiving payment services firms to share reimbursement of qualifying domestic Authorised Push Payment frauds up to a maximum of UK£85,000 (US$107,275). Dan Wyatt and Chris Whitehouse of RPC discuss the expectations and exposure affecting these firms, along with potential negative and positive impacts of the regime.