UK Finance reports that victims lost a total of £1.2bn to scammers last year.
The latest data shows the shocking extent of losses to unauthorised and authorised fraud.
Unauthorised fraud occurs when a scammer carries out transactions without your consent or authorisation – for example, if your bank card is stolen. Authorised fraud, or APP fraud, occurs when you're tricked into sending money to a criminal's account.
It's crucial to be aware of how these scams work and take precautions to protect yourself. Learn more about the different types of fraud and how to spot them.
Source: Which? (11 May 2023)
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