UK Sees Card Fraud Soar Even After Clampdown on Payment Scams

UK Sees Card Fraud Soar Even After Clampdown on Payment Scams

Fraudsters have switched up their tactics after the UK cracked down on authorized push payment scams, meaning the overall amount stolen was broadly unchanged last year.

McAfee launches tool to stop Brits falling victim to scams as it’s revealed they face an average of ten each day

McAfee is taking a major step forward in the fight against scams by introducing McAfee’s... The post McAfee launches tool to stop Brits falling victim to scams as it’s revealed they face an average of ten each day appeared first on UK Tech News.

Authorised payment fraud falls as scammers switch tactics

Authorised push payment (APP) fraud declined in 2024 following regulatory and industry interventions. Total fraud rates, however, remain largely unchanged as scammers look to other avenues according to new research. In the annual fraud report from UK Finance it was revealed that APP, a form of fraud in which someone is tricked into approving a fraudulent transaction from their account, had fallen by around 2% in 2024, with losses dropping to £45…

Over £1bn Stolen by Fraudsters in 2024 – UK Finance Report Over £1bn Stolen by Fraudsters in 2024 – UK Finance Report

UK Finance reveals alarming fraud trends, with criminals stealing over £1 billion in 2024 Highlights: Massive fraud losses: Criminals stole £1.17 billion in 2024, with a rise in remote purchase fraud. Changing fraud tactics: While APP fraud losses declined, remote purchase fraud surged by 22%. Call for action: Experts urge stronger collaboration between public and private sectors to combat fraud. Summary: A recent UK Finance report highlights t…

Dealers report rising crime levels with one in five hit by fraud

Motor dealers are reporting rising levels of crime with one in five (20%) falling victim to fraud, and a further 31% targeted but able to prevent it The research, from Close Brothers Motor Finance, revealed that almost four in five (79%) dealers are concerned over fraud having an impact on their business, in contrast to only 4% who said they are not concerned at all. With fraud on the rise, dealers are taking precautions to prevent falling victi…

Over £1.17bn lost to fraud in 2024 - Credit Connect

Britain's financial sector reported 3.31 million fraud cases in 2024, marking a 12% increase from the previous year, according to latest UK Finance data.