UK ombudsman helping settle disputes between consumers and financial firms
BNPL providers must now be FCA-authorised to operate in the UK, with new protections for consumers including FOS complaints, refunds under section 75, and upfront affordability checks. Regulators say the move aims to curb unaffordable spending, but researchers warn conservative checks could block some users and push others toward unregulated lenders.
A SBS Insight episode has revealed a barman withdrew 1.6 million from a bank after a 2011 incident, highlighting vulnerabilities in banking systems and customer control. A Guardian letter details card-skimming scams in Paris, while The Japan Times reports on a Tokyo police probe into PayPay fraud linked to refunds.