Providers seeking to remain compliant in this space will need to be cognisant of the PRS (Premium Rate Services) Order, and managing risk plays a majority part in this (part of the new Ofcom regulation). As such, aimm has produced this guide to assist members in recognising their obligations around risk; how to identify it and manage it as stated in the PRS Order, Part 4, Due-diligence measures and risk assessments in dealing with others
Identifying and managing ongoing risk has long been the responsibility of Intermediary Providers and Network Operators under the Phone-Paid Services Authority’s various Codes of Practice. February 1st, 2025, marks a change in regulatory regime, as the PSA will cease to exist, and Ofcom will take control.
As such, the Code of Practice model of regulation will also come to an end, and instead Industry will be governed by way of a Statutory Instrument –a legal document – laying out the regulatory responsibilities of all providers including Merchants.