UK Finance releases its 2024 Annual fraud report, detailing the amount its members reported as stolen through payment fraud and scams in 2023

The report highlights criminals stole £1.17 billion through unauthorised and authorised fraud in 2023, a four per cent decrease compared to 2022, Banks prevented a further £1.25 billion of unauthorised fraud through advanced security systems, 76 per cent of APP fraud started online and 16 per cent started through telecommunications networks…