Status: You are viewing the version of the handbook as on 2019-09-14.

authorised push payment fraud

    152a transfer of funds by person A to person B, other than a transfer initiated by or through person B, where:

      1. (1) A intended to transfer the funds to a person other than B but was instead deceived into transferring the funds to B; or
      1. (2) A transferred funds to B for what they believed were legitimate purposes but which were in fact fraudulent.

    In this definition, “initiated” should be construed in the context of the way it is used in the Payment Services Regulations (so that, for example, funds transferred by credit transfer would be included but not where they have been transferred by direct debit or debit card or credit card via a merchant).