Protecting Payments
Every payment that moves across our rails is an opportunity for criminals — and a responsibility for us. FPS UK leads the industry response to Authorised Push Payment (APP) fraud, working with banks, the Payment Systems Regulator and law enforcement to keep customers safe.
£341m
Lost to APP fraud in 2024
67%
Reimbursed to victims
1.4m
Suspicious payments stopped
Since October 2024, victims of Authorised Push Payment scams sent over Faster Payments are entitled to reimbursement up to £85,000 within five business days. FPS UK operates the central reimbursement claims management service that makes this possible.
Confirmation of Payee checks the name on the recipient's account before a payment leaves the sender's bank. It's now mandatory across the UK and has cut misdirected payments and impersonation scams by double-digit percentages.
We're rolling out richer payment messaging across Faster Payments so banks can see contextual signals — purpose codes, beneficiary history, device intelligence — and stop suspicious transfers in real time.
FPS UK convenes the Economic Crime Working Group and shares intelligence across Tier 1 and challenger banks, payment service providers and the National Crime Agency to disrupt mule networks before money leaves the UK.
If you've been the victim of a scam, contact your bank immediately — they have direct access to our reimbursement workflow. You can also report to Action Fraud on 0300 123 2040 or at actionfraud.police.uk.
Never move money to a 'safe account' on someone's instruction. Verify investment opportunities with the FCA register. If a deal feels rushed or too good to be true, stop and call your bank using the number on the back of your card.