Financial regulators in the Isle of Man, Jersey and Guernsey have agreed a shared set of principles to shape a new Authorised Push Payment (APP) fraud framework.
The three regulators say the move will support a practical and broadly consistent approach across the Crown Dependencies, while still recognising each jurisdiction’s distinct legal and regulatory landscape.
Engagement with professional bodies and the Manx banking sector will begin shortly, with an industry outreach session planned for September 2026.
The framework will focus initially on retail banking customers and sterling payments made through Faster Payments and CHAPS.
Key areas covered by the agreed principles include prevention, education, controls, reimbursement, gross negligence, customer responsibility and vulnerability.
Andrew Kermode, Head of Prudential Supervision at the Isle of Man Financial Services Authority, said APP fraud can have a “significant impact on individuals, families and businesses”, adding that the regulators are committed to prioritising prevention, detection and customer protection.
He said the principles set “a clear direction of travel”, with improved customer outcomes at their core.
