Essex midwife loses thousands after falling victim to APP scam
Ann Akinwale, a midwife from Basildon, was the victim of a distressing authorised push payment (APP) scam. Fraudsters pretended to be from her bank and tricked her into transferring £2,000….
Meta platforms responsible for half of bank transfer scams in 2023
Shockingly, more than half of all bank transfer scams reported in 2023 originated from Facebook, Instagram, or WhatsApp—platforms owned by Meta. These platforms have become hotspots for fraud, costing victims…
Moira Stuart narrowly avoids losing thousands to evil APP scam
Former BBC News broadcaster Moira Stuart recently shared how she narrowly avoided becoming a victim of authorised push payment (APP) fraud. With more than 230,000 people falling victim to APP…
Trio found guilty of running fraud website that raked in millions
Three men have confessed to operating a fraud website that allowed fraudsters to bypass banking security checks and steal money from UK account holders. The men, Callum Picari, 22, from…
Monzo’s APP fraud refund rate third lowest among UK banks
In 2023, Monzo lagged behind most other UK banks in providing fraud refunds to victims of authorised push payment (APP) fraud. According to new data from the Payments Services Regulator (PSR),…
Monzo to introduce ground breaking fraud prevention features
To tackle the rising issue of financial fraud in the UK, Monzo has launched three innovative security controls. Known Locations, Trusted Contacts, and Secret QR Codes are designed to protect…
UK government to introduce new APP fraud legislation
In a move to counter Authorised Push Payment (APP) fraud, the government is enhancing the legal framework for fraud prevention. Recent draft legislation lays out new measures to empower payment…
Lloyds issues warning as fraud cases continue to soar
The landscape of financial security is increasingly besieged by sophisticated fraudsters, employing tactics that exploit trust to siphon billions from the unsuspecting public. As the most prevalent crime in the…
APP fraud takes centre stage in 2024’s fraud prevention initiatives
In the bustling heart of London, at an event dedicated to fraud prevention, Chris Hemsley, the Payment Systems Regulator’s (PSR) Managing Director, delivered an impactful speech. The focus was on the UK’s…
Fraudsters steal £1.6 million in just 20 minutes
The owner of small business Kent Brushes, who lost £1.6 million in a matter of minutes due to fraud, has criticised the authorities for their inadequate response. An employee at…