The PSR penalised Bank of Ireland UK after the bank missed its compliance deadline by 14 months © Aidan Crawley/Bloomberg Bank of Ireland UK has been fined for failing to implement confirmation of ...
Independent.ie on MSN
Bank of Ireland UK is fined £3.78m for failing to implement anti-fraud measures in time
Bank of Ireland UK has been fined £3.78m by the Payment Systems Regulator (PSR) for failing to meet a deadline to introduce an anti-fraud safeguard. The UK regulator said the bank implemented a system ...
Safeguards were not applied to transactions involving more than 1.14 million new payees, with payments totalling ...
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. CoP is designed to help customers avoid ...
Bank/PSP (Payment Service Provider) not offering Confirmation of Payee (CoP) could be aiding and abetting fraudsters. CoP links the name of the account holder to the Sort Code and account number.
Earlier this week, Modulr reportedly became the very first non-bank or building society to join the Confirmation of Payee service, which allows people to check whether the payment details they’ve ...
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