Tag: CHAPS

Learn about CHAPS (Clearing House Automated Payment System) and its role in facilitating high-value, same-day bank transfers in the UK. Discover how CHAPS supports businesses and financial institutions by providing secure, real-time settlement for large transactions, enhancing efficiency in the payments ecosystem.

Identity Fraud, synthetic identity fraud

The UK Is Making Banks Reimburse Victims of APP Fraud

by Tom Nawrocki

October 7, 2024

The UK has introduced new regulations requiring banks and other payment firms to reimburse victims of authorized push payment (APP) ...

CHAPS Endures Another Hiccup

by Tom Nawrocki

July 18, 2024

British interbank payments service CHAPS (Clearing House Automated Payment System) experienced another glitch on Thursday, delaying many high-value, time-sensitive payments. ...