HSBC: Tech Sector Should Help Refund APP Fraud Victims
HSBCHSBC HOLDINGS(HSBC) PYMNTS.com·2024-09-24 21:33

British banking giant HSBC wants the tech industry’s help with new fraud reimbursement rules.The bank said the regulations expected to go into effect next month will not prevent fraud, The Guardian reported Sunday (Sept. 22).David Callington, the head of fraud at HSBC UK, said while the new rules will lead banks and payment firms to upgrade their fraud detection systems, they won’t be enough to stem the tide of authorized push payment (APP) fraud cases in the United Kingdom, per the report.Those fraud incid ...