Helping to keep your money safe with the CRM code

We’re always finding new ways to help keep our customers safe. Today, we’ve signed up to a new voluntary industry code, designed to better protect and educate our customers, increase vigilance and combat financial crime.

The Code, which forms part of something called the Contingent Reimbursement Model (CRM) focuses on detecting, deterring and protecting victims of Authorised Push Payment (APP) scams. If you’re unfamiliar with APP fraud and want to learn how to better protect yourself, you can find out more in the guide written by our fraud team.

What is the CRM?

The CRM is a model that sets out the circumstances in which people who have been scammed through APP fraud could get their money back. It also sets out which bank, or Payment Service Provider (PSP) – either the receiving or sending PSP – might be responsible for this.

When APP fraud has occurred and a reimbursement may be possible, the team looking at the case will look at a number of things, including whether the PSPs had met certain standards and whether the person who was scammed had applied a reasonable level of care and caution when making the payment.

It’s important to highlight that this does not guarantee that victims of APP will be reimbursed. It’s also worth noting that the code will only apply to transactions occurring on or after 28 May 2019 and before 7th October 2024, when the rules change.

Why are we adhering to the code?

The answer is simple: because it’s the right thing to do. All banks have a responsibility to protect their customers. But by adhering to the voluntary code with a handful of other institutions at this early stage, we’re going above and beyond to collaboratively tackle financial crime, and to reduce the number of APP cases.

It’s important to remember that the proceeds of APP scams can be used to fund further crime, both financial and violent, throughout the UK and overseas.

What’s changing?

In terms of day-to-day banking, you may notice some additional security messages, designed to keep you alert when making payments from your Starling account.

It’s very important that customers pay attention to these and follow the instructions shown in the app. When making payments, you should also make sure that:

• The person you pay is the person you’re expecting to pay

• That the payment is for genuine goods or services

• The person or business you are paying is legitimate

  
  

What should I do if I’ve been scammed?

If you think you’ve been scammed by an APP fraudster, contact your bank as soon as possible. You may also want to report the scam to Action Fraud, the UK’s national reporting centre for fraud and cybercrime.

Article updated: 4 October 2024