On the 4 July 2019 the FCA released a ‘Dear CEO’ letter that addressed both the positive and negative practices of non-bank Payment Service Providers (“PSPs”) as they seek to comply with their obligations to safeguard customers’ funds. The FCA identified a number of failings in the safeguarding processes of the 11 PSPs it reviewed over a six-month period and has set out mandatory actions for PSPs.
What are you doing to protect your customers from authorised push payment (APP) scams? That is a question payment service providers (PSPs), including payment and e-money institutions, will have to answer following regulatory intervention in the UK to force the industry to tackle the problem following Which?’s supercomplaint in 2017.
fscom’s Director, Alison Donnelly, who was recently appointed as the European Women in Payments Network (EWPN) Ambassador for Ireland, will be hosting the event at the offices of FPAI.