On 27 November 2019, UK Finance announced that the seven launch signatories to its automatic push payment (APP) scams voluntary code (the Code) have agreed to continue interim funding for the ‘no-blame’ scenario until 31 March 2020.

The continuation of interim-funding is in response to Pay.UK’s recently published conclusions that there is no industry consensus to finance a central fund to reimburse victims of APP fraud (see previous blog).

Stephen Jones, Chief Executive of UK Finance said that “This voluntary agreement to continue the interim funding arrangements by seven of the Code signatories into March next year therefore provides important time for further proposals to be considered and implemented.”