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Well done David Geale and the PSR for sticking to the plan.

The need is clear and evidence based. Only when the right incentives are in place will we see PSPs change their behavior and fully assume their duty to customers and society by being more proactive in their efforts to reduce economic crime. 

The cost of fraud to victims, the national and global economy is enormous - and payment service providers are best placed to deploy preventative measures.

If firms can't afford to protect their customers and the associated liability for the business they write, then they either need a better business model and/or processes, or should leave the market to others that do.

Hi Konstantin

Thanks for sharing your pespectives.

I recently wrote about CBDCs too in response to an interesting blog by Tom Noyes.

Best regards,

James