Tensions between the consumer group Which? and the trade body The Payments Association remain high, with the pair at odds over their approach to tackling payment fraud as new figures show soaring scam cases.

Starting in October 2024, the Payment Systems Regulator (PSR) will implement new rules for authorised push payment (APP) scams – where fraudsters trick people into sending money online to fake payees – setting a £415,000 maximum reimbursement level to cover the money lost.