Soaring levels of authorised push payments fraud in the UK are turning consumers off digital banking, according to research conducted by Visa.

APP fraud occurs when someone is tricked into transferring money to a fraudster posing as a genuine payee. Total losses due to APP scams exceeded £239 million in the first half of 2023 according to UK Finance, and one-in-three of those surveyed by Visa reported having fallen victim to APP fraud.

https://www.finextra.com/newsarticle/43622/one-in-three-consumers-falling-victim-to-app-fraud---visa