This should not be beyond firms’ gift
This is the
fourth blog out of eight in our series on the Contingent Reimbursement Model
code (“CReM”) that purports to offer customers strong protection against
certain types of Authorised Push Payment Fraud, or “APPF”.
We made the
point in Part III that firms demanded Name + Sort Code + Account Number as
mandatory information […]
Happy APPF’ing
This is the third
blog out of eight in our series on the Contingent Reimbursement Model code
(“CReM”) that purports to offer customers strong protection against certain
types of Authorised Push Payment Fraud, or “APPF”.
It doesn’t,
not least because it fails to set out, as a baseline, what the customer’s
rights are in law now under the 2017 Payment […]
This is the
second blog out of eight in our series on the Contingent Reimbursement Model
code (“CReM”) that purports to offer customers (also known as Payment Service
Users or “PSUs”) strong protection against certain types of Authorised Push
Payment Fraud, or “APPF”.
This one is
on the types of fraud covered by the CReM.
APPF comes
in two main flavours:
The fraudsters gull […]
The UK’s
Payment Systems Regulator has announced the final version of the Contingent
Reimbursement Model code (“CReM”) with the usual fanfare. This is the code, a
year or more in the preparation, that purports to offer customers (also known
as Payment Service Users or “PSUs”) strong protection against certain types of Authorised
Push Payment Fraud, or “APPF” – the boom […]
Kiely Rowan plc, the trading entity of the Orla Kiely fashion and design business, went into administration in October 2018 with over £7 million owing to third-parties. The assets – supposedly totalling over £8 million in the accounts that were signed by the directors and the auditor in September 2017 – turned out to be […]
The good ship “Paris Club” riding at anchor
In the mid- to late 1980s Western banks lost colossal amounts of money on the export credit loans in Western currencies that they had lent into public sector borrowers and projects in the Third World, where the loans were insured or counter-guaranteed by government agencies such as ECGD […]
The Byzantine Empire is deemed to have emerged in 476 A.D., its being based on the residual Eastern Roman Empire at the point at which the Western one collapsed.
The Byzantine Empire survived for nearly a thousand years, until brought to an end by the sack of Constantinople by the Ottomans in 1453.
Pay.uk’s project to build […]
Pay.uk have issued their February 2019 NPA Programme Industry Newsletter, entitled “Enabling a vibrant UK economy”, NPA standing for New Payments Architecture.
The title should have had “…in the 2030s” appended to it, since that is the timeline inferred by the newsletter’s content, if not by its form or wording.
There is this beguiling diagramme, showing the […]
Once again cheques in the UK are facing their demise, this time as a consequence of their being excluded from the New Payments Architecture project, or “NPA”.
This time it will be a slow and lingering death over a 10-15 year period, as investment is channeled into other services and the cheque service withers on the […]
Project Carlton has been conceived as a stock take of the efforts to reform the UK payments business since 2014 and to evaluate the case for a change in direction.
The reform efforts have been spearheaded by the Payment Systems Regulator and its creature the Payment Strategy Forum, involving a supporting cast of hundreds, including several […]
