3 days ago
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.
Criminals swiped £1.2 billion ($1.6 billion) in 2024, according to trade body UK Finance's annual fraud report. The amount taken using authorized push payments, where a victim is tricked into sending money to an account controlled by scammers, fell 2% to £450.7 million, and the number of cases fell by a fifth to the lowest since 2020.
