In October 2024, the United Kingdom will be the first jurisdiction globally to introduce regulations requiring financial institutions to reimburse customers who fall victim to authorised push payment (APP) scams.
Author Jonathan Frost, an expert in fraud and cybercrime, offers invaluable insights and considerations for the banking industry highlighting the complexities of APP fraud, the UK’s coming regulatory changes, and an overview into global fraud reimbursement approaches.
Discover how technology, education, and consortia infrastructure can enhance the detection and prevention of evolving fraud schemes.
About Jonathan Frost
During his tenure at the City of London Police, Jonathan led the development of the UK National Fraud and Cybercrime Reporting system. He also contributed to the evidential workstream of the Contingent Reimbursement Scheme (CRM), the voluntary scheme for APP fraud reimbursement.
Recently, he served as the Director of Technical Collaborations at Stop Scams UK, working with companies like Meta, Google, and BT to combat fraud at source. Jonathan also worked on several data science projects for the Foreign, Commonwealth and Development Office and Home Office during his time with Faculty.ai.
Jonathan currently sits on the board of the Stop Scams Alliance (US 501(c)(3) nonprofit). He acts as an independent consultant to several organisations, assisting them to reduce fraud and cybersecurity risks.
