New rules for reporting card fraud

New rules for reporting card fraud

UK payments association Apacs has announced the introduction of new regulations for the reporting of card, cheque and online financial fraud.

The body says that the new rules are designed to “streamline” the complaints process and make it more consistent for the consumer.

Instead of having to report an incident to both the lender and the police, the customer now reports only to the lender, who then takes the issue up with the police.

In the past, the customer had to inform the lender, take certain information to the police, then come back to the lender with information provided by the police.

Effective from Monday 2nd April, the revised regulations will “will provide greater consistency for the reporting of fraud losses in the UK”, according to Apacs spokeswoman Sandra Quinn.

The body worked with both the Home Office and the Association of Chief Police Officers to develop the new procedures.

© Adfero Ltd

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