Since the surge in APP fraud reported by UK Finance in the first half of this year forty five million people received either a suspicious text, recorded message or phone call over the last 3 to 4 months.(i) An unknown communication is the start of the fraud cycle and the sheer size of the fraudsters’ activities suggest at least a doubling of UK Finance first half of 2021 record figure of £355 million.

https://www.finextra.com/blogposting/21138/authorised-push-payments-app-fraud-is-soon-to-become-a-billion-business