UK Finance Annual Fraud
Unauthorised Fraud Summary Unauthorised fraud includes fraud on debit, credit, and other payment cards, cheques and remote banking channels.
Cards
Report 2024 Representing 300 firms, UK Finance is a world class trade association representing the banking and finance industry operating in the UK. Each year, UK Finance publish an in-depth Annual Fraud Report. The report publishes both the value of fraud losses and the number of cases involved. The data included is reported to UK Finance by their members which include financial providers, credit, debit and charge card issuers, and card payment acquirers. Each incident of fraud does not equal one person being defrauded, but instead refers to the number of cards or accounts defrauded. All fraud loss figures, unless otherwise indicated, are reported as gross. This means the figures represent the total value of fraud including any money subsequently recovered by a bank.
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harpendenbs.co.uk
Fraud in 2023 (% figures in brackets represent change from 2022)
£1.17B stolen through fraud in 2023 (-4%)
2.97M Confirmed cases (-1%)
Prevented £1017M (+4%) Cases: 2,696,325 (-1%)
“We saw some small reductions in the amount stolen through payment fraud in 2023, but with losses of nearly £1.2 billion it remains a major problem and threat to the UK” Ben Donaldson OBE
Managing Director UK Finance
Losses: £551M (-1%) Cheques
Prevented £12M (-38%) Cases: 1,197 (+24%) Losses: £5.6M (-25%) Remote Banking
Prevented £218M (+25%) Cases: 37,412 (-21%) Losses: £152M (-7%)
harpendenbs.co.uk
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