Mobile wallets now being used by majority of UK adults
Data published by UK Finance indicates how payment habits in the UK continue to evolve and how they are expected to change in the next decade. Key findings from the Payment Markets Report for 2024 show: The total number of payments made in the UK last year was 48.6 billion payments, up by 1.5 per […]
UK fraud pegged at £570 million in the first half of 2024
Data from UK Finance indicates criminals stole £571.7 million through unauthorised and authorised fraud in the first half of 2024, representing a 1.5 per cent decrease compared to the first half of 2023. Banks prevented £710.9 million of unauthorised fraud through advanced security systems, while 72 per cent of APP fraud started online and 16 […]
UK Finance highlights £55.5m anti-fraud success
£55.5 million of fraud was prevented in 2022 due to the Banking Protocol rapid scam response scheme, according to data released by banking industry body UK Finance. The Banking Protocol is a UK-wide scheme developed by UK Finance, National Trading Standards and local police forces. Bank and building society staff are trained to spot the […]