Authorised Push Payment Scams and the Contingent Reimbursement Model Code

The Lending Standards Board (LSB), in conjunction with the APPG on Personal Banking and Fairer Financial Services, is hosting a parliamentary reception on 16 June 2022 to raise awareness of APP scams, the protections in place for consumers, and what more must be done in the fight against scams.

The Code, governed by the LSB, is the only set of protections of its kind that requires signatory firms to detect, prevent and respond to APP scams. APP scams are on the rise, causing devastation to consumers who fall victim, so there’s never been a more important time for the industry to come together to ensure that scam prevention remains at the top of the agenda.

The event will bring together key players in the industry to talk about the APP scam landscape, how the industry is addressing the growing problem, and what more needs to be done to ensure good outcomes for consumers.

Bob Blackman MP, Chair of the APPG, will open the event, and attendees will then be hearing from:

• Chris Pond, Chair of the LSB and the Financial Inclusion Commission, on the journey so far to mitigate APP scams, the cost-of-living crisis and the impact on vulnerable customers, and the need for further scam prevention;
• Emma Lovell, Chief Executive of the LSB, on the wider APP scam landscape, the impact of the Code’s protections and what good consumer protection looks like;
• Nausicaa Delfas, Chief Executive of the Financial Ombudsman Service (FOS), on the challenges and improvements the FOS has seen as firms tackle APP scams and support customers, evolving risks and what future scam protection should look like; and
• Richard Emery of 4Keys International, on why “Prevention is better than Cure”.

The panel will then invite questions and thoughts from attendees.

The event is “by invitation only” and places are limited.

Please direct all queries to the Chair of the Secretariat to the APPG, through here.