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Written Question
Electronic Funds Transfer: Fraud
Thursday 22nd July 2021

Asked by: Ruth Edwards (Conservative - Rushcliffe)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what engagement he has had with the Payment Systems Regulator on the powers they require to introduce mandatory protections for victims of authorised push payment scams.

Answered by John Glen

The Government is committed to tackling fraud and ensuring that victims of Authorised Push Payment (APP) scams are protected.

The Government welcomed the publication of the Payment Systems Regulator’s (PSR) call for views on APP scams in February 2021, which set out various potential measures for reducing APP scams and improving customer outcomes, including new requirements on payment service providers to reimburse APP scam victims. The Government is of the view that the introduction of Faster Payments Service rules setting reimbursement requirements on all scheme participants is the best possible solution to the issue of APP scams.

The PSR’s call for views has now closed and the Government is engaging with the PSR and industry on next steps, including considering what further actions may be necessary to make progress on this issue.

Speech in Commons Chamber - Mon 19 Apr 2021
Finance (No. 2) Bill

"The east midlands is one of the regions that was fortunate to benefit from a new freeport in this Budget. Spread across three sites in Leicestershire, Derbyshire and my own constituency of Rushcliffe, we hope to establish a green technology park on the site of one of the UK’s last …..."
Ruth Edwards - View Speech

View all Ruth Edwards (Con - Rushcliffe) contributions to the debate on: Finance (No. 2) Bill
Speech in Commons Chamber - Fri 11 Sep 2020
Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill

"It is a pleasure to follow my hon. Friend the Member for Christchurch (Sir Christopher Chope)—a veteran, as he says, of sitting Fridays—on this, my first sitting Friday. I congratulate the hon. Member for Cardiff North (Anna McMorrin) on securing this Bill and on choosing this issue. Her clear concern …..."
Ruth Edwards - View Speech

View all Ruth Edwards (Con - Rushcliffe) contributions to the debate on: Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill
Speech in Commons Chamber - Fri 11 Sep 2020
Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill

"I completely agree with my hon. Friend. In fact, protecting the integrity of the co-operative model is one of the issues that I have with this Bill.

Returning to my opening remarks about the strength of green investments, I have made the case in the past that such investments should …..."
Ruth Edwards - View Speech

View all Ruth Edwards (Con - Rushcliffe) contributions to the debate on: Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill
Speech in Commons Chamber - Fri 11 Sep 2020
Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill

"I certainly agree with my hon. Friend on that point, but they are subsidising those bills no more because, as he knows, the company has collapsed and is having to be rescued by British Gas. It has collapsed in financial ruin, and the result has been a huge economic and …..."
Ruth Edwards - View Speech

View all Ruth Edwards (Con - Rushcliffe) contributions to the debate on: Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill
Speech in Commons Chamber - Fri 11 Sep 2020
Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill

"I thank my hon. Friend for that example, which highlights why good intentions have to be underpinned by practical and well-thought-through proposals.

Finally, in January the Financial Conduct Authority put in place regulations prohibiting the promotion of functionally similar financial instruments—speculative versions of so-called mini-bonds—to public consumers. The reason for …..."
Ruth Edwards - View Speech

View all Ruth Edwards (Con - Rushcliffe) contributions to the debate on: Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill
Speech in Commons Chamber - Wed 09 Sep 2020
Protection of Jobs and Businesses

"I want to start by paying tribute to the businesses up and down the country who have done so much to protect us at this time, businesses such as: Quotient Sciences in Rushcliffe, working day and night to develop coronavirus treatments; Ruddy Fine Gin in Ruddington, which converted its production …..."
Ruth Edwards - View Speech

View all Ruth Edwards (Con - Rushcliffe) contributions to the debate on: Protection of Jobs and Businesses
Speech in Commons Chamber - Wed 09 Sep 2020
Protection of Jobs and Businesses

"The furlough scheme has done so much over the past few months for people in my constituency. In Rushcliffe, over 12,500 jobs have been protected by the coronavirus job retention scheme, over 3,000 self-employed people have been claiming support through the self-employed income support, and over £18 million in grants …..."
Ruth Edwards - View Speech

View all Ruth Edwards (Con - Rushcliffe) contributions to the debate on: Protection of Jobs and Businesses