In the first half of 2020, UK Finance reported a total of £207.8 million was lost to APP fraud.

On-demand webinar

Confirmation of Payee (CoP) is an industry response to authorised push payment (APP) fraud and payment errors.

There are multiple phases, all of which provide access to the CoP solution at different times for different players in the payments ecosystem. It's important for the banking community to understand what this means, including the protection of customer funds, the bank's reputation and how it becomes key to act now for many in the banking industry while the doors are still open to Phase 1.