72 Liability of payment service providers for fraudulent transactions
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

Other miscellaneous provisions

72  Liability of payment service providers for fraudulent transactions

(1)     The Payment Systems Regulator must prepare and publish a draft of a relevant requirement for reimbursement in such qualifying cases of payment orders as the Regulator considers should be eligible for reimbursement.

(2)     A case is a “qualifying case” for the purposes of this section if—

(a)     the case relates to a payment order executed over the Faster Payments Scheme, and

(b)     the payment order was executed subsequent to fraud or dishonesty.

(3)     The draft of the relevant requirement must—

(a)     be published in the way appearing to the Payment Systems Regulator to be best calculated to bring it to the attention of the public;

(b)     be accompanied by notice that representations about the proposed relevant requirement may be made to the Payment Systems

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