New report from PSR shows how fraudsters exploit major platforms to scam consumers

"On October 2024, the Payment Systems Regulator (PSR) introduced new reimbursement rules, ensuring a world-leading level of protection for UK consumers. The PSR's data shows that in 2023 alone, APP scams cost UK consumers £341 million, with victims losing trust not only in banks but also in social media companies - 41% of victims said their trust had been shaken."