Question to the Home Office:

To ask the Secretary of State for the Home Department, if she will publish the names of (a) banks and (b) other organisations that fail to (i) prevent fraud and (ii) reimburse victims of fraud.

We work closely with the financial sector to disrupt fraud at its source and prevent financial exploitation. We welcome the actions of the financial services industry in helping to prevent authorised push payment (APP) fraud. Data has also shown that banks are increasingly compensating victims following the introduction of mandatory reimbursement through the Financial Services and Markets Act 2023 (APP scams reimbursement dashboard for Q2 2025 | Payment Systems Regulator).

The Payment Systems Regulator (PSR) oversees banks’ compliance with regards to mandatory reimbursement, and they will publish their third APP scams performance report, covering 2024, in December. The reports show the sending fraud rates and reimbursement rates of the 14 biggest banks in the UK, putting a spotlight on firms that are the highest receivers of fraud. Previous reports for 2023 and 2022 can be found here: APP fraud performance data | Payment Systems Regulator.