← Back to Business Expert
Data hub · Fraud · Reimbursement Checked 3 Jun 2026

UK Fraud Reimbursement Statistics 2026

Since 7 October 2024, UK payment firms must reimburse most authorised push payment scam victims. In the first year, banks paid back £173 million, around 88% of covered losses by value (Payment Systems Regulator). The real story is what the rules expose: the cost is split equally between the sending and receiving bank, and the data shows fraud lands disproportionately on smaller payment firms.

How to read this page
  • APP fraud reimbursement is banks refunding victims of authorised push payment scams, where the victim was tricked into sending the money themselves.
  • The sending firm is the victim's bank (where the money left). The receiving firm is where the fraudster's account sat (where it arrived). Under the rules, they split the cost 50:50.
  • Non-directed PSPs are smaller payment firms and e-money providers, not the big high-street banks. They feature heavily in the receiving-firm data.
By Business Expert research team · Last checked 3 Jun 2026 · How we check the data →
Data period: 2024 – 2025-09·Last reviewed: 3 Jun 2026·Quarterly updates·Sources: Payment Systems Regulator·⇩ Data (CSV)
1.

UK APP fraud reimbursement at a glance

The amount returned in the first year of the mandatory regime, the reimbursement rate, and the way the cost is shared.

Reimbursed in year one
£173m
Oct 2024 to Sep 2025year 1
Payment firms reimbursed £173 million to victims in the first full year of the mandatory regime, across roughly 188,000 in-scope claims.
PSR, APP Reimbursement Dashboard2025
Reimbursement rate (by value)
88%
▲ of in-scope lossesyear 1
Banks returned 88% of the value of covered claims in the first year, the headline measure of how the regime is working.
PSR, APP Reimbursement Dashboard2025
In-scope claims
~188,000
year one2025
Around 188,000 claims fell within the rules in the first year, covering UK Faster Payments and CHAPS scams.
PSR, APP Reimbursement Dashboard2025
Cost split
50:50
sending / receivingsince Oct 2024
The bill is shared equally between the sending bank and the receiving firm, designed to make both sides invest in stopping fraud.
PSR reimbursement rules2024
2.

The first year of mandatory reimbursement

Before October 2024, reimbursement was largely voluntary and patchy. The mandatory regime set a single standard across firms and made the outcomes public.

Mandatory APP reimbursement, year one

MeasureValuePeriod
Total reimbursed£173mOct 2024 to Sep 2025
Reimbursement rate (by value)88%Oct 2024 to Sep 2025
In-scope claims~188,000Oct 2024 to Sep 2025
Per-claim cap£85,000covered scams
Liability split50 / 50sending / receiving firm
Source: PSR Mandatory APP Reimbursement Dashboard (Q3 2025 update, published February 2026). Covers UK Faster Payments and CHAPS scams. Checked 3 Jun 2026
What this means

An 88% reimbursement rate is a step change from the patchy voluntary picture before the rules. It is not 100%: claims can be declined where the victim acted with gross negligence, and the rules exclude several payment types, covered in the caveat below and on UK APP fraud statistics.

3.

Fraud lands disproportionately on smaller firms

The most striking finding from the data is on the receiving side. Smaller payment firms take in far more fraud than their share of payments would suggest.

Where APP fraud is received, by firm type

Firm typeShare of APP fraud receivedShare of consumer Faster Payments handled
Non-directed PSPs (fintechs, e-money)34% by value, 48% by volume19% by value
Larger banking groups (remainder)~66% by value~81% by value
Source: PSR Mandatory APP Reimbursement Dashboard. Non-directed PSPs received 34% of APP fraud by value and 48% by volume while handling only 19% of consumer Faster Payments by value. The remainder row is derived. Checked 3 Jun 2026
Firm-level outliers

The PSR publishes exact firm-level rates rather than bands. Its data has highlighted strong and weak performers: in the run-up to the regime, Nationwide reimbursed about 97% of cases by volume, while at the other end one named receiving firm, Prepay Technologies, took in roughly £3,132 of APP scams per £1 million of transactions received. These named figures come from PSR published data and illustrate the range; the live dashboard carries the current numbers.

4.

What the rules mean for firms that receive payments

The 50:50 split changed the incentives. A firm that receives a lot of fraud now pays for half of it, so receiving-side controls are no longer optional.

The incentive shift

  • Receiving firms carry half the cost. Before the regime, the receiving firm rarely paid. Now it shares the bill, which is the whole point: it forces investment in stopping fraudsters opening and using accounts.
  • Onboarding and monitoring matter. Strong identity checks and account-monitoring reduce the fraud a firm receives, and therefore its reimbursement liability.
  • Outlier status is public. Because the PSR publishes firm-level data, poor performance is visible to regulators, partners and the press.
  • It affects banking choices. For businesses choosing where to hold funds and process payments, a provider's fraud controls are part of the picture. See our business banking guide.
Reimbursed, year 1
£173m
88% of covered losses
Your share if receiving
50%
Of each covered claim
5.

Reimbursement covers most scams, not all

An 88% rate is high, but it applies only to in-scope claims. Several common scam routes sit outside the rules entirely.

What is and is not covered

The mandatory regime covers APP scams paid by UK Faster Payments and CHAPS, up to £85,000 per claim. It does not cover international payments, cryptocurrency transfers or civil disputes (for example, a genuine purchase that went wrong). The 88% figure is the rate on covered claims, not on all money lost to scams, so the share of total scam losses returned is lower than the headline rate.

Different windows measure different things. The reimbursement figures here cover October 2024 to September 2025, the first regime year. The underlying scam losses on the APP fraud page are reported on a 2024 calendar-year basis. Keep the two windows distinct rather than dividing one by the other.
6.

Sources and methodology

Reimbursement totals, rates and firm-level data come from the Payment Systems Regulator's mandatory APP reimbursement dashboard, the official source for the regime.

1 source Source register ▾
SourcePublisherPeriod coveredTypeLast checked
Mandatory APP Reimbursement DashboardPayment Systems RegulatorOct 2024 to Sep 2025 (Q3 2025 update)Regulator3 Jun 2026
How we check the data ▾

Regime figures from the PSR

The £173 million total, the 88% rate and the receiving-firm concentration come from the PSR's mandatory reimbursement dashboard, the authoritative source.

Named firms labelled as illustrative

Firm-level examples are drawn from PSR published data and shown to illustrate the range. The live dashboard carries the current rates, which update each quarter.

Windows kept distinct

Reimbursement covers the first regime year (Oct 2024 to Sep 2025). We keep it separate from calendar-year scam-loss figures rather than combining the two.

Data integrity

All figures map to the PSR mandatory reimbursement dashboard. The 88% rate is labelled as a rate on covered claims, exclusions are stated, named-firm figures are flagged as illustrative, and the regime window is kept distinct from calendar-year loss data. Last full review: 3 Jun 2026.

Fraud reimbursement FAQ

Common questions about UK APP fraud reimbursement

How much APP fraud was reimbursed in the UK?
Payment firms reimbursed £173 million to victims in the first year of the mandatory regime (October 2024 to September 2025), around 88% of covered losses by value, across roughly 188,000 in-scope claims (PSR).
Who pays when an APP scam is reimbursed?
The cost is split 50:50 between the sending firm (the victim's bank) and the receiving firm (where the fraudster's account sat). The split is designed to make both sides invest in stopping fraud.
What is not covered by mandatory reimbursement?
The regime covers APP scams paid by UK Faster Payments and CHAPS, up to £85,000 per claim. It does not cover international payments, cryptocurrency transfers or civil disputes, and claims can be declined where the victim acted with gross negligence.
Why do smaller payment firms receive so much fraud?
PSR data shows non-directed PSPs (fintechs and e-money firms) received 34% of APP fraud by value and 48% by volume while handling only 19% of consumer Faster Payments by value. Fraudsters favour accounts that are quicker to open or less tightly monitored.
Does the 88% rate mean victims get almost all their money back?
It is the rate on covered claims, not on all scam losses. Because international, crypto and civil-dispute payments fall outside the rules, the share of total scam losses returned is lower than the 88% headline.