Financial Services Financial Services

UK banks' new regulatory obligation to follow fraud reimbursement rules wins lawmakers' welcome

By Phoebe Seers
  • 08 Jun 2023 12:20
  • 08 Jun 2023 12:51
An amendment to the UK’s mandatory fraud reimbursement plan that puts a direct regulatory obligation on banks and other payment services providers to comply with the new regime has won a welcome from lawmakers.
A previous iteration of the proposal saw the payments regulator empower industry body Pay.UK to implement

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Phoebe Seers


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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