Frauds

Barclays has reported a whopping 139% increase in the total value of romance scams.

Romance scams increased sharply during May and June, according to data from Barclays, with men losing £3,500 on average and women £8,900.

https://moneyweek.com/personal-finance/barclays-reports-large-spike-in-romance-scams

Barclays is warning Brits about romance scams as its research revealed an increase in claims.

The bank analysed its business and personal current account customer scam data and found a 139% increase in the total value of romance scam reports when comparing the period March to April with the period May to June.

https://www.bicesteradvertiser.net/news/national/uk-today/24480234.barclays-issues-warning-brits-rise-romance-scams/

Society’s attitude to fraud is “softening” with the effects being felt in the billion-pound benefits system, the Department for Work and Pensions has said.

Softening of attitudes to fraud putting pressure on welfare system, report warns (yahoo.com)

IFB urges caution as young drivers targeted on social media

Reports of an increase in fraudulent motor insurance deals sold by ghost brokers on social media platforms rose by 6% last year, with further increases expected due to ongoing financial strain, according to the Insurance Fraud Bureau (IFB).

Ghost broking activity continues to rise in the UK | Insurance Business UK (insurancebusinessmag.com)

UK businesses are lagging their European counterparts when it comes to intelligence sharing, suggests GBG’s Global Fraud Report.

UK lags Europe in collaborating on identity fraud | THINK Digital Partners : THINK Digital Partners

UK motor insurer Ageas has identified a concerning new trend in “crash for cash” scams: a scheme involving moped riders who intentionally position themselves to be hit by reversing vans in an attempt to be compensated by insurance.

‘Crash for cash’ scam gets new twist | Insurance Business UK (insurancebusinessmag.com)

Benefit fraud cost taxpayers a record £7.3bn last year as a wave of criminality sweeps Britain, according to the Department for Work and Pensions (DWP).

https://www.msn.com/en-gb/money/other/benefits-fraud-costs-taxpayer-record-7-3bn-as-society-becomes-more-criminal/ar-BB1qqwHa

The number of holiday scams has tripled in the first half of 2024, and a lender has warned families to stay alert when booking a trip to sunnier climes.

The warning comes as July has proven to be a particularly fruitful time of year for fraudsters, as £34,000 was taken from Santander customers in that month in 2023.

https://www.yourmoney.com/household-bills/holiday-scams-triple-santander-urges-families-to-stay-alert-during-summer-break/

Identity fraud has no respect for international or industry borders. It’s a constantly evolving, global issue impacting businesses across every industry and in every country around the world. More recently, the potentially devastating results of identity fraud have been highlighted by the increasingly sophisticated way fraudsters are operating. The power of AI and machine learning is now harnessed by criminals to launch widespread, complex attacks which means, despite the best efforts of those dedicated to fighting identity fraud, detection and prevention is more challenging than ever.

https://www.finextra.com/blogposting/26436/collaboration-the-secret-sauce-to-fighting-identity-fraud

Christopher Harkins, 37, loaned money from women he targeted on dating websites.

A “manipulative and violent” rapist who defrauded women out of more than £210,000 through romance scams has been jailed for 12 years.

Christopher Harkins, 37, targeted single women on dating websites and worked to gain their trust, portraying himself himself as a successful businessman.

https://www.shropshirestar.com/news/uk-news/2024/07/10/romance-scam-rapist-who-left-trail-of-devastation-is-jailed-for-12-years/