(Bloomberg) -- The UK payments industry has asked for another year to get ready for new rules forcing firms to reimburse scam victims, saying the resignation of the top regulator earlier this month was an “opportunity to re-set.”

The Payments Association said its more than 200 members had raised concerns that key parts of the reforms including the case management system would not be in place for the rules coming into force on October 7, according to a briefing note seen by Bloomberg. 

The lobby group told the Payment Systems Regulator it wants full implementation to be delayed “ideally for 12 months.” The organization has previously argued that the ceiling on refunds was too high at £415,000 ($528,110) — a complaint that garnered support from government ministers, and ultimately saw the PSR’s head Chris Hemsley resign at the start of June.

Authorized push payment fraud — where victims are tricked into sending money to criminals — led to £460 million in losses last year, according to research by the trade group UK Finance. Under the proposed rules, customers would be refunded in most cases, with the cost split between the companies used to send and receive the payment. 

“Payment firms and fintech can’t absorb this alone, and the new government must intervene on this: if they want to kill a sector from which they expect a huge contribution for the growth agenda, they must say it clearly. It’s a political decision,” said Riccardo Tordera-Ricchi, director of policy and government relations at the Payments Association.

David Geale, who replaced Hemsley as PSR managing director, said the regulator had drafted the rules “after more than two years of extensive consultation and industry engagement.”

“We will continue to engage with and support industry, taking into account all feedback as we move forward and as industry works hard to implement the systems and processes needed for the new reimbursement requirements,” he said in a statement on Monday. 

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