UK payments regulator claims payee anti-fraud protection working

More than two million Confirmation of Payee (CoP) checks are now completed every day across the UK, five years after the payment fraud prevention and name checking system was introduced by the country's Payment Systems Regulator (PSR).

By Sarah Gibbons

More than two million Confirmation of Payee (CoP) checks are now completed every day across the UK, five years after the payment fraud prevention and name checking system was introduced by the country's Payment Systems Regulator (PSR).