The Payment Systems Regulator plans to reduce the maximum reimbursement for bank transfer scams from £415,000 to £85,000, sparking criticism from consumer groups. Despite claims that the new cap will still cover the majority of scam cases, concerns remain about the impact on victims of high-value fraud. The regulator aims to strike a balance between consumer protection and industry incentives, with the consultation closing on September 18.
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Daniel Křetínský £5.3bn bid for Royal Mail owner to get greenlight from UK government
The UK government has approved Czech billionaire Daniel Křetínský's £5.3bn takeover of Royal Mail, with a "golden share" retained by the government for governance. Křetínský's EP Group will uphold commitments including maintaining UK operations and meeting delivery obligations. This decision comes after Royal Mail was fined £10.5mn for failing to meet performance targets, highlighting the challenges faced by Křetínský in modernizing the postal service. Full Article
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