Skip to content

News

UK Fraud Activity 2020 [infographic]

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

As criminals become ever more imaginative in their attempts to steal customers’ money, fraud continues to pose a major threat to the UK, which shows no sign of changing. This year, criminals have been exploiting and adapting to Covid-19 with a growth in fraud and scams that target people online, taking advantage of fears and uncertainties around the virus.

This is demonstrated by a rise in the number of various types of fraud, such as impersonation scams, authorised push payment (APP), remote banking and mobile banking fraud. The finance industry is working hard to tackle fraud but it is vital that government, regulators, and other sectors continue to step up and play their part in detecting and preventing this criminal activity.

Compiling data from UK Finance’s 2020 Half Year Fraud Update, we’ve produced the below infographic summarising recent UK fraud activity.

Click image to enlarge

 

Our 123signed technology is a fully automated merchant and consumer onboarding and monitoring solution providing identification and verification of personal and corporate data. To learn more about how we can help you manage your risk with real-time verification, click here.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

Related Posts

What’s happening with the FCA and AML?

With the change in the anti-money laundering (AML) supervisory approach of the Financial Conduct Authority (FCA), many firms are nervous about whether they will face FCA scrutiny and what to
Read More >

Reminder: Consumer Duty board reports due 31 July 2024

As the one-year mark of the Consumer Duty’s implementation approaches, firms are reminded that the first board reports on Consumer Duty implementation and outcomes are due by 31 July 2024.
Read More >