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Everton to argue 10-point deduction was unconstitutional in appeal to Premier League![img](/img/external-link.svg)
Premier League's failure to adopt a detailed ‘sanction policy’ for its financial rules will form a key plank of Everton’s appeal against an unprecedented 10-point deduction. The club will stress they were not guilty of a ‘deliberate cynical breach of the PSR to achieve a sporting advantage’ Everton must lodge their appeal by December 1.
Premier League left with no option but to get tough with clubs accused of breaching rules![img](/img/external-link.svg)
Everton's unadjusted losses for the period were £304 million. By the time PSR add-backs had been permitted, including that bespoke Aug 2021 deal on stadium costs, those losses had been more than halved to £120 million.
Warning issued to anybody with TSB, Nationwide, Barclays or Santander account![img](/img/external-link.svg)
PSR released data from 14 of the UK's major banking groups on how much it reimburses customers when they fall victim to an Authorised Push Payment (APP) scam. APP scams happen when someone is tricked into sending money to a fraudster posing as a genuine payee. This type of scam has quickly become one of the most "significant" types of fraud accounting for nearly £500million in losses last year. TSB was found to have fully reimbursed the most victims in full with 94% of reported APP scam cases reimbursed.
'Awful' warning to TSB, Nationwide and other bank customers![img](/img/external-link.svg)
Customers with TSB, Nationwide, Santander and other banks have been hit with an "awful" warning following research from a banking watchdog. The Payment Systems Regulator (PSR) collected data from banks on reimbursement to victims amid a rising tide of scams across the country. TSB fully reimbursed 94% of the APP scam cases reported to it, followed by Nationwide, 91% of cases, and Barclays, 79%. Monzo, 6%, 8% 14. AIB, 12%
£250 warning issued to anybody with a Mastercard or Visa card![img](/img/external-link.svg)
Payment Systems Regulator is proposing new rules for Authorised Push Payment (APP) scams, which cost £500million in losses annually. PSR has suggested introducing a fee for victims when they make a claim under the current voluntary Contingent Reimbursement Model (CRM) model.
Scam victims could pay £250 towards refund claims under new proposals![img](/img/external-link.svg)
Payment Systems Regulator (PSR) has put forward new proposals in relation to protection for people who fall victim to Authorised Push Payment (APP) scams. These scams happen when someone is tricked into sending money to a fraudster posing as a genuine payee. PSR has suggested that victims of this type of fraud pay an excess of £100 or even up to £250 to use the service as a way to encourage people to be "more cautious" Those who are considered vulnerable would be exempt from the fee.
Views sought on later ‘go-live’ date for mandatory reimbursement of scam victims![img](/img/external-link.svg)
Payment Systems Regulator (PSR) previously consulted on a starting date of April 2 2024. But it is now seeking views on a date of October 7 2024. Consumer group Which? said the delay means people who would have been protected ‘risk facing devastating financial losses’
Banks will be required to reimburse APP scam victims from next year![img](/img/external-link.svg)
The Financial Services and Markets Bill is making its way through Parliament. It will allow the PSR to direct firms to reimburse customers. The Bill is expected to receive Royal Assent in 2023.
UK's payments regulator lays down mandatory reimbursements in APP fraud victims![img](/img/external-link.svg)
Britain's Payment Systems Regulator (PSR) said on Wednesday it has made it mandatory for banks and payment firms to reimburse victims of online bank fraud. Thousands of people have seen their savings swept away in recent years.
Medical lobby set to lose veto power over who runs key regulator![img](/img/external-link.svg)
The Australian Medical Association is set to lose its veto power over who runs the Professional Services Review (PSR) The PSR is responsible for reviewing the Medicare billing practices of 150,000 health professionals. Assistant Health Minister Ged Kearney said the veto power was inconsistent with public expectations and undermined confidence in the regulator’s independence.
Medical lobby set to lose veto power over who runs key regulator![img](/img/external-link.svg)
The Australian Medical Association is set to lose its veto power over who runs the Professional Services Review (PSR) The PSR is responsible for reviewing the Medicare billing practices of 150,000 health professionals. Assistant Health Minister Ged Kearney said the veto power was inconsistent with public expectations and undermined confidence in the regulator’s independence.
US unions call on railroads to halt buybacks, ditch lean operating model![img](/img/external-link.svg)
U.S. labor unions called on railroad operators to halt all stock buybacks until they improve safety. The unions have blamed Precision Scheduled Railroading for worsening working conditions. Railroads, however, say PSR helps provide predictable and consistent service to customers.
Vision for open banking which helps improve financial services access is set out![img](/img/external-link.svg)
The Joint Regulatory Oversight Committee has published its vision for open banking. The committee is made up of the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) More than seven million people and businesses across the UK currently use open banking-enabled products.
People will be able to see their own bank’s performance on bank transfer scams![img](/img/external-link.svg)
Payment Systems Regulator (PSR) wants to hear views on guidance for firms. Firms will be required to publish data on their performance on APP scams. Data will be collected and published on a six-monthly basis.
Major banking change could leave thousands of Brits out of pocket – see if you’re affected...![img](/img/external-link.svg)
PSR's plan is to force mandatory reimbursements for all online and mobile payments over £100. Customers will need to make their claim within 13 months of any incident. TSB has warned that a quarter (25%) of all fraud victims will not be reimbursed.
New fraud refund mechanism could exclude a quarter of victims, TSB warns![img](/img/external-link.svg)
One in four people who are tricked into transferring money to a fraudster could be denied their money back. Payment Systems Regulator (PSR) wants banks to exclude refunds where payments are for less than £100. TSB has offered a fraud refund guarantee since 2019.
Quarter of bank fraud victims ‘will lose out’ under watchdog plans![img](/img/external-link.svg)
TSB is urging the Payment Systems Regulator (PSR) to reconsider its proposals. Would mean banks not having to refund anyone who loses less than £100 to tricksters.
New fraud refund mechanism could exclude a quarter of victims, TSB warns![img](/img/external-link.svg)
PSR will be able to require banks to reimburse APP (authorised push payment) scam losses. Around 25%, or a quarter, of frauds are below £100, according to PSR. TSB has offered a fraud refund guarantee since 2019.