The Payment Systems Regulator (PSR) planned to reduce fraud compensation limits for scam victims from £415,000 to £85,000, aligning with the Financial Services Compensation Scheme. Despite pressure from ministers and industry stakeholders, the PSR justified the change by citing a low number of high-value fraud cases and the need to strike a balance between consumer protection and industry competition. Consumer watchdog Which? criticized the move, expressing concerns about reduced protections and incentives for payment firms to enhance fraud security measures.
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The Stocks That Could Make Your Grandkids Rich as Kings
Young people have the potential to become multimillionaires due to their extended time for investments to grow. The article explores various promising investment options that can be recommended to children and grandchildren, emphasizing the importance of early financial education and smart money management. Need More Context? 🔎
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