UK Finance

146 results about this entity

Period: 02 Jan 2002 - 17 Sep 2024

Apply Cancel
UK contactless limits raised to £45

/covid-19

UK contactless limits raised to £45

The UK has joined other countries around the world in lifting the ceiling for contactless card payments, enabling customers to make more payments without touching card terminals or handling cash.

APP fraud losses hit £456 million in 2019

/security

APP fraud losses hit £456 million in 2019

With authorised push payment (APP) fraud soaring, UK Finance is calling for cross-sector cooperation on a problem that still results in most victims not being reimbursed by banks, despite a recently introduced voluntary code of conduct.

/security

Banking industry-funded fraud squad prevents and disrupts £31.2m of fraud in 2019

A specialist police unit funded by the banking and finance industry prevented £31.2 million of fraud and disrupted 23 Organised Criminal Groups (OCGs) in 2019, new figures reveal.

UK banks extend deadline for funding APP fraud compensation

UK banks extend deadline for funding APP fraud compensation

The UK's largest banks have committed to extend funding to reimburse customers who fall victim to authorised push payment fraud by three months, pushing the expiry date for the interim arrangement from December to March 2020.

Pay.UK knocks back Faster Payments fees to cover APP fraud

Pay.UK knocks back Faster Payments fees to cover APP fraud

Proposals by seven UK banks to levy a per transaction fee for for certain Faster Payment transactions as a means to provide a long-term, sustainable funding arrangement for the reimbursement of APP scam victims, have been knocked back by governing body Pay.UK following an industry-wide consultation.

UK Finance: No silver bullet for solving local access to cash

UK Finance is today providing an update on the banking and finance industry’s commitment to help local communities secure appropriate free access to cash for customers.

/security

Banking industry stops £4.5mn of fraudulent payments per day, UK Finance finds

The finance industry prevented £820 million of unauthorised fraud in the first half of 2019, up 14 per cent on the previous year, according to the latest figures from UK Finance.

/security

Industry-funded fraud squad dismantles double the number of criminal gangs in first half of 2019

13 Organised Crime Groups (OCGs) were dismantled by the Dedicated Card and Payment Crime Unit (DCPCU) in the first half of 2019, double the number in the same period last year, according to the latest figures from UK Finance.

UK Finance recommends 18-month delay for new authentication rules

/regulation

UK Finance recommends 18-month delay for new authentication rules

UK Finance is recommending a minimum 18-month delay to the introduction of Secure Customer Authentication rules in the UK, with a further one-year extension for the hospitality and travel sector.

UK banks commit to free access to cash

/inclusion

UK banks commit to free access to cash

The UK banking industry is promising to work with local communities to ensure that Brits continue to have free access to cash as the country drifts towards a digital economy.

Millions of Brits go cashless amid rise of contactless and mobile banking

/payments

Millions of Brits go cashless amid rise of contactless and mobile banking

With mobile banking and contactless payments becoming ever more popular in the UK, one in 10 Brits now live a largely cashless life, according to figures from UK Finance.

Which?: APP losses are 'spiralling out of control'

Which?: APP losses are 'spiralling out of control'

Ahead of the introduction of a new voluntary code to reimburse customers who fall victim to authorised push payment (APP) fraud, consumer group Which? says that losses from money transfer scams are 'spiralling out of control', with £674 per minute drained from consumer accounts.

Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.

Please read our Privacy Policy.

Accept