New approaches to tackle APP and other frauds

From regulatory consultations, a range of responses to authorised push payment fraud, and courts developing helpful approaches to assist cybercrime victims take legal measures against “person(s) unknown” – authorities in the United Kingdom are seeking new ways to confront specific fraud challenges. By Rhodri Thomas.

Rhodri Thomas(rhodri.thomas@freshfields.com) is a partner in the disputes, litigation and arbitration group at law firm Freshfields Bruckhaus Deringer.

In this article, I look at three interesting developments currently taking place for banks in the world of cyber-security: a consultation on the operational resilience of firms and the financial system; consultations on authorised push payment fraud; and an emerging approach by the courts to help victims of cyber-attacks.