Britain's Payment Systems Regulator (PSR) said on Thursday that 252,626 cases of authorised push payment (APP) scams worth almost 341 million pounds ($438 million) in total were reported in 2023.
The PSR, in its latest report tracking the performance of payment firms in tackling such scams and reimbursing victims, said reimbursement rates increased, while fraud value decreased. ($1 = 0.7788 pounds)
(Reporting by Arpan Varghese in Bengaluru; Editing by Savio D'Souza)