Push Payment Scam Losses Fall by £73m Annually

By the Editorial Team · Thursday, July 2, 2026

Authorized push payment fraud losses in the UK have decreased by approximately £73 million annually following the implementation of regulations requiring banks to reimburse victims under the Contingent Reimbursement Model Code. This reduction highlights the effectiveness of improved consumer protections and bank safeguards, though APP fraud remains a persistent issue prompting ongoing efforts to enhance fraud prevention and regulatory measures.

Losses from authorised push payment (APP) fraud in the United Kingdom have declined by an estimated £73 million annually, according to a recent review assessing the impact of regulations mandating banks to compensate victims. APP fraud occurs when individuals are deceived into voluntarily transferring funds to fraudsters, often through various types of scams.

The review examined the effects of the Contingent Reimbursement Model (CRM) Code, which requires participating banks and payment service providers to reimburse customers in cases where APP fraud occurs, provided consumers have met certain safeguards. Since the code's introduction, investigators found a significant reduction in financial losses linked to APP fraud.

Industry experts attribute the decrease to a combination of enhanced consumer protections, greater awareness campaigns, and improved bank verification processes designed to prevent fraudulent transfers. While losses have fallen significantly, the review also noted that APP fraud remains a notable challenge within the payments system.

Financial institutions affiliated with the CRM Code have strengthened their fraud detection and prevention measures, using advanced technology and customer education to reduce the incidence of successful scams. Meanwhile, consumer advice emphasizes the importance of vigilance against unsolicited requests for payment and verification of recipients before transferring funds.

Despite the positive trend, some stakeholders argue that the current reimbursement framework could be further refined to address lingering gaps, particularly in cases where scammers exploit human vulnerabilities. Others contend that the existing rules strike a necessary balance between protecting consumers and maintaining operational efficiencies for payment providers.

The review’s findings are expected to inform ongoing discussions among regulators, banks, and consumer groups aimed at developing more robust protections against APP fraud. As financial crimes continue to evolve, authorities are calling for continued collaboration to safeguard consumers and limit the economic impact of such scams.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.