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The Latest Breaking News from PSR

Newcastle may have to sell key player in summer after £73.4m loss

Newcastle accept they may have to sell one of their key players this summer as they strive to remain on the right side of the Premier League’s regulations

The Guardian - UK

New requirements to reimburse victims of bank transfer scams set out

The new consumer protections against authorised push payment fraud will come into force from October 7 2024.

The Independent UK

What Everton’s points deduction means for the Premier League, Man City and Chelsea

Everton were deducted 10 points for a breach of the Premier League’s financial fair play rules - and now the rest of world football is watching to see what comes next

The Independent UK

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Everton’s deduction is a tremor – City and Chelsea may face the earthquake

Everton first to be punished for breaking profitability and sustainability rules – others can only wait to see what comes next

The Guardian - UK

Everton hit with 10-point deduction for breaching Premier League financial rules

An independent commission found the club had acted “irresponsibly” in regard to Premier League profitability and sustainability rules.

The Independent UK

TSB reimbursed 15 times more customers’ fraud losses than Monzo in 2022

Regulator figures show huge differences in banks’ treatment of fraud victims, from 94% of claims refunded by TSB to 6% at Monzo

The Guardian - UK

Banks’ performance in dealing with APP scam victims revealed by regulator

The Payment Systems Regulator said there are inconsistent outcomes for customers who report an APP scam to their bank or building society.

The Independent UK

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Views sought on later ‘go-live’ date for mandatory reimbursement of scam victims

The introduction of mandatory reimbursement rules for APP scam victims could be pushed back next year, from April to October.

The Independent UK

Banks set to pay thousands to people who've been scammed

People should be reimbursed within five days under the new rules

Liverpool Echo

Banks will need to refund ALL money lost to faster payment scams from next year

Authorised Push Payment (APP) scam have quickly become one of the most "significant" types of fraud accounting for nearly £500million in losses in the UK last year

Daily Mirror

UK banks to reimburse fraud victims under new rules, regulator confirms

Requirement to refund people who have been tricked by scammers will be implemented in 2024

The Guardian - UK

Banks will be required to reimburse APP scam victims from next year

Most victims of authorised push payment fraud will be reimbursed within five business days, the Payment Systems Regulator said.

The Independent UK

Thousands of pounds of “forever chemicals” have been injected into Texas oil and gas wells, study finds

A new report from a public health watchdog found that more than 40,000 pounds of PFAS has been injected into more than 1,000 wells across Texas — and warned that the chemicals could pose a risk to public health

The Texas Tribune

Your rights if you have had a prepay meter fitted against your will

Ofgem tells energy firms to pay out over force-fitted pay-as-you-go meters and campaigners want to hear if you are affected

Chronicle Live

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The Independent UK

Proposals to reimburse scam victims are half-baked, says Treasury Committee

Treasury Committee chair Harriett Baldwin said regulators need to sort out exclusions and criteria quickly.

The Independent UK

Plans to reimburse bank transfer scam victims are ‘fundamentally flawed’, Treasury Committee warns

‘Putting an industry body in charge of reimbursing scam victims is like asking a fox to guard the henhouse’

The Independent UK

Plans to reimburse bank transfer scam victims are flawed – Treasury Committee

Victims of fraud have been waiting too long for a fair and functional scam reimbursement scheme, MPs said.

Insider UK

TSB warns that new fraud refund mechanism could exclude a quarter of victims

Regulator's new rules reimburse bank transfer fraud victims, but exclude refunds where payments are for less than £100

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ABC News

Medicare watchdog investigates just 100 cases of inappropriate billing every 12 months

The watchdog responsible for policing Medicare investigates just 0.07 per cent of health professionals each year, is chronically understaffed and underfunded, and is led by bureaucrats with strong links to the powerful Australian Medical Association, an ABC-Nine investigation has found.

Wales Online

Scottish Power and Utilita slapped with Ofgem warnings for failing to protect customers

Provisional orders were given to the energy companies in order for them to comply with their licensing conditions

Daily Mirror

Struggling households can get extra help if their gas and electric has been cut off

Vulnerable and elderly Brits are being encouraged to sign up to the Priority Services Register, which means they could get extra help, cooked meals and other help during power cuts

The Guardian - UK

Liz Truss derided for ‘dangerous’ reported plan to merge UK financial regulators

Ex-business secretary Vince Cable says potential integration of FCA, PRA and PSR, formed after financial crisis, poses systemic risks

The Independent UK

Mastercard and others fined for cartel behaviour in prepaid cards market

The Payment Systems Regulator said it had concluded that the companies infringed competition law.

The Independent UK

Mastercard fined £31.5m for operating cartel in pre-paid card market

Regulator fines Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion after finding that they broke competition law

Daily Mirror

Mastercard among five firms fined £33million for breaking law on prepaid cards

Mastercard, allpay, Advanced Payment Solutions (APS), Prepaid Financial Services (PFS) and Sulion all admitted breaking the law by agreeing not to compete or poach each other’s customers

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