By Lars Mucklejohn The UK has launched a world-first bank transfer fraud refund scheme after more than two years in the works and last-minute changes influenced by industry lobbying and pressure from ministers. From Monday, the Payment Systems Regulator (PSR) is requiring more than 1,500 banks, fintechs and other payment firms to reimburse victims of authorised push payment (APP) fraud up to a limit of £85,000 per claim. Costs must be split between the companies used to send and receive the payment, with most refunds having to be settled within five working days. To refuse a claim, firms must …