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so is cop a silver bullet for fraud this is Mike Nathan from feedsley and welcome to the weekly update the UK payment services Authority announced his extending cop or confirmation of payee to 400 firms across the UK this was for October next year and weamp;#39;ll cover all tax payments and faster payments cop was designed to help support misdirected funds and app scams what it does is check the name of the individual that youamp;#39;re paying against their sort code account number cop currently checks over 1 million faster payments a day it was introduced a few years ago by six of the largest banks in the UK is now rolled out to 59 institutions authorized push payment fraud is when the fraudster generally calls up the customer and convinces them to make a payment to a money meal it is certainly the largest challenge facing the global banking industry from a full perspective scams have overtaken account takeover as the primary reason for fraud in the UK and theyamp;#39;ve even overt