Fraud poses a major threat to the UK. It’s a crime the finance industry is committed to tackling, but it’s also one that requires the combined efforts of every sector, both public and private, to overcome.
Fraud the Facts 2019 report lays bare the extent of the challenge. Last year the advanced security systems and innovations in which the finance industry invests to protect customers stopped more than £1.6 billion of unauthorised fraud. Despite this, criminals successfully stole £1.2 billion through fraud and scams in 2018.