CP18/16: Authorised push payment fraud - extending the jurisdiction of the Financial Ombudsman Service

Open consultation: CP18/16
26/06/2018
Consultation closes
26/09/2018
Policy Statement
Q4 2018
Q4 2018

This Consultation Paper (CP) sets out proposed changes to our complaints handling rules to reduce the harm experienced by victims of Authorised Push Payment (APP) fraud.

Read CP18/16 (PDF)

Authorised Push Payment (APP) fraud is where a fraudster tricks a payer (often an individual consumer) into making a payment to an account controlled by that fraudster.

This Consultation Paper (CP) sets out proposed changes to our complaints handling rules to reduce the harm experienced by victims of APP fraud. We propose to require payment service providers (PSPs) to handle complaints about alleged fraud relating to funds they have received as a result of APPs in line with the DISP sourcebook. We also propose to allow eligible complainants to refer these complaints to the Financial Ombudsman Service.

This CP also sets out proposed changes to the voluntary jurisdiction of the Financial Ombudsman Service, and is a joint consultation with the Financial Ombudsman Service on those changes.

Who this applies to

These proposals will be of interest to: 

  • consumers and micro-enterprises
  • consumer groups
  • payment service providers, including credit unions
  • industry representative bodies

What you need to do

Please send us your comments by 26 September 2018.

Online response form

You can also:

  • email your responses to [email protected]; or
  • write to:
    • current address – Racquel Thomas-Smith, Strategy and Competition Division, Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS
    • new address from 14 July 2018 – Racquel Thomas-Smith, Strategy and Competition Division, Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN

Next steps

We will review all responses, speak to interested stakeholders and publish our feedback and final rules in Q4 2018.