Criminals stole £500 million through scams

Banks are urged to 'step up' as criminals steal £500m from UK customers.

A total of £145 million of that was lost through authorised push payment (APP) scams, with the rest lost due to unauthorised payments, trade body UK Finance said. The most prevalent type of APP scams – accounting for almost two-thirds of reported cases in the first six months of the year – were purchase scams, where victims pay in advance for a product or service, such as a car or a holiday rental, which is not received or does not exist.

This type of fraud often takes place online, through auction websites or social media

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Criminals stole £500 million through scams

A total of £145 million of that was lost through authorised push payment (APP) scams, with the rest lost due to unauth...

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2018

Online shopping and auction scams were the most common fraud reported in 2018.

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