Confirmation of Payee is regulated by the Financial Conduct Authority (FCA) and, as such, banks and other financial institutions who use this service must pass rigorous security checks. Data is only shared when absolutely necessary and only for the purpose of security. Confirmation of Payee (CoP) data is necessary to prevent fraud, particularly Authorised Push Payment (APP) scams, and reduce payment errors by verifying that the account name matches the details provided by the payer before a transaction is processed. This adds a layer of security, increasing the ability to trust digital payments. All data is processed in adherence to the UK GDPR and Data Protection Act 2018.