Fraudsters have switched up their tactics after the UK cracked down on authorized push payment scams, meaning the overall amount stolen was broadly unchanged last year.
Criminals swiped £1.2 billion ($1.6 billion) in 2024, according to trade body UK Finance’s annual fraud report. The amount taken using authorized push payments, where a victim is tricked into sending money to an account controlled by scammers, fell 2% to £450.7 million, and the number of cases fell by a fifth to the lowest since 2020.
UK Finance said measures such as new technology to detect these scams and a growing public awareness ...
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