The Consumer Standard of Caution requires customers to take reasonable steps to protect themselves from Authorised Push Payment (APP) fraud. To be eligible for reimbursement under the new rules, you must adhere to the following :
- Listen to and act on any warnings given by your financial institution
- Report any fraud immediately by contacting your financial institution
- Provide any information your financial institution needs to investigate the fraud as quickly and efficiently as possible.
- Report the scam to the relevant authorities, such as Action Fraud.
Following these steps is essential to remain eligible for reimbursement.