New rules in UK could reimburse fraud victims up to £415,000 ($525,000)

New rules in the United Kingdom could see victims of romance and investment scams reimbursed by the banks involved in sending and receiving fraudulent payments in a radical change to who is liable for these losses. The Payment Systems Regulator (PSR) said the new reimbursement requirement would come into force in October 2024, and would

banks change cybercrime fraud fraudulent government investment investment scams losses payment payments payment systems romance rules scams systems united united kingdom