On 7 December 2023, the Payment Systems Regulator (PSR) published Cycle 2 of authorised push payment (APP) fraud data reporting for payment services providers (PSPs).

Specific Direction 18 was issued on 23 March 2023, to 14 directed participants. It sets out the legal requirements for reporting APP scams data to the PSR.  

The PSR published its first set of performance data in October 2023. Following cycle 1, it consulted on some changes to cycle 2 around timings and reporting periods.

The document now published sets out the PSR’s finalised reporting guidance for the second reporting cycle. It aims to help PSPs provide the PSR with the correct data and any additional information that it may need.

Cycle 2 will cover both H1 2023 and H2 2023. The PSR will require PSPs to prepare data between February 2024 and June 2024, and it intends to publish the second cycle of data in July 2024.