Scammers stole £800,000 a day from victims

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Offline TimeshareTalk

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Scammers stole £800,000 a day from victims
« on: September 25, 2018, 15:37:50 »
Scammers stole £800,000 every day in the first six months of this year, according to new figures released by the banking trade body.

UK Finance, which tracks bank data on bank transfer fraud, last night announced that £145.4m was lost to so-called "authorised push payment" fraud between January and June.

This type of crime is Britain's fastest growing and the announcement suggests that 2018 will see a sharp increase in the amount stolen from 2017 when victims lost £236m over the whole year. Telegraph Money has been campaigning for banks to do more to help victims of bank transfer fraud.

By far the most common fraud of this type is purchase fraud, whereby a victim believes they are paying for a legitimate service or item, with £19.4m lost in 21,483 cases. There were also around 4,000 cases of impersonation, in which a criminal will pose as a trusted third party to redirect a payment, for example, a solicitor or bank. [nofollow]