Research, Survey and Statistics

In spite of regulators making banks implement additional levels of authentication such as two-factor authentication (2FA), UK Finance’s latest set of data reveals that bank transfer scams (APP fraud) is on the rise and cost Brits £456m in 2019.

https://thefintechtimes.com/33461-2/https://thefintechtimes.com/33461-2/

Latest figures unveiled by Action Fraud show there have been 105 reports of scams since February 1, with total losses reaching nearly £970,000

https://www.kentlive.news/news/uk-world-news/upsurge-coronavirus-linked-scams-almost-3997919?utm_source=twitter.com&utm_medium=social&utm_campaign=sharebar

Now would be a good time to check your credit cards, cryptocurrency, cash, and other forms of currency. In a recent study from the experts at Sift, fraudulent payment attempts increased by 73 per cent in 2019.

https://www.shoutoutuk.org/2020/03/25/fraudulent-payment-attempts-increased-by-over-70-in-2019/

A growing trend of Coronavirus-related fraud has seen reports of scams increase by 400 per cent within the space of a month, police have warned.

https://www.expressandstar.com/news/2020/03/20/police-warning-over-coronavirus-fraud-activity/

Three in five fraudulent transactions identified in Q4 2019 originated from a mobile browser.

https://www.itproportal.com/news/new-fraud-attack-uncovered-every-two-mins-in-2019/

Recent figures show that the amount of money illegally defrauded by criminals via bank transfers has increased by 40% compared to the same period last year.

The purpose of this report is to provide the board with an update on the work being undertaken to develop the Police and Crime Commissioner’s local and national fraud strategy.

https://www.westmidlands-pcc.gov.uk/wp-content/uploads/2020/02/180220-SPCB-Agenda-Item-8b-Fraud-and-Cyber-crime.pdf?x56534

Victims lost £339m to investment scams last year amid warnings the City of London's cybercrime team are witnessing a "sharp rise" in cryptocurrency fraud.

Did you know that probate fraud costs in the region of £150m a year? That’s the figure provided by the Society of Trust and Estate Practitioners (STEP).

https://www.legalfutures.co.uk/associate-news/protecting-yourself-against-probate-fraud

New figures which report a fall in ‘computer misuse’ and a rise in fraud shows the authorities are failing to grasp the true impact of cybercrime, according to a leading cybersecurity expert.

https://thefintechtimes.com/cybercrime-figures-overlook-the-link-with-fraud/