Lyddon Consulting Services Limited
We are a blue-chip specialist consultancy in international banking, focusing on matters related to the core domain of Payments and Cash Management. That leads to market change aspects such as the Euro, how to implement a change of currency, Single Euro Payments Area, and new services such as Bank Payment Obligation, and SWIFT for Corporates.
It also leads into the regulatory domain and measures such as Payment Services Directive, Anti-Money Laundering Directives, and regulations around cards, mobile, eMoney and mandatory information in funds transfers.
At Lyddon Consulting you will find find both methodologies and training packages to meet your needs and support your change programmes.
Latest posts
Crummy CReM code Part VIII and the low standards for firms to meet
Payment firm trying desperately to get under the CReM bar
This is the eighth and
final blog 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”.
This one concerns the “expectations”
and “standards” that firms should abide by, if they are signatories to the
code. Firms have to live up […]
Crummy CReM code Part VII and customers’ added responsibilities
Customer shudders under CReM responsibilities
This is the seventh 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 adds considerable
work for the customer and in doing so reduces the numbers who will be able to
make a successful claim.
With half […]
Crummy CReM code Part VI as customers’ baseline rights are overridden
Watch as customers’ rights go up in flames
This is the sixth 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”.
In it we discuss how customers’ baseline rights in law are overlooked.
The CReM fails to adequately qualify what happens in […]
Crummy CReM code Part V – types of customer covered, firms offering cover and dependency upon Confirmation of Payee
Half of victims fall at the first fence in their attemt to get reimbursement
This is the
fifth 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”.
Here we focus on who qualifies for cover, who is offering cover, and the vague contingency of […]
Crummy CReM code Part IV – ensuring that the mandatory data is validated at the beneficiary firm
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 for instructing payments through the eBanking […]
Crummy CReM code Part III – root cause of “wrong name” APPF and customer’s current legal protection
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 Services Regulations (the “PSRs”),
and fails to […]
Crummy CReM code Part II – bizarre choice of types of fraud it covers
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 a person’s eBanking credentials
from them and […]
Crummy CRM code offers no comfort to UK payment fraud victims – Part 1
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 area for payment fraud.
It is also […]
The Fall of the House of Kiely – but not on O.Kiely or D.J.Rowan
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 worth £67,000.
All that went in […]