{"id":94516,"date":"2023-05-10T23:18:37","date_gmt":"2023-05-10T23:18:37","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/"},"modified":"2023-05-10T23:18:37","modified_gmt":"2023-05-10T23:18:37","slug":"warning-uk-losing-2300-per-minute-to-fraud","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/","title":{"rendered":"Warning UK losing \u00a32,300 per minute to fraud"},"content":{"rendered":"
\n

According to banking industry group UK Finance, people in the UK lost \u00a31.2 billion to fraud in 2022, equivalent to \u00a32,300 a minute.<\/b><\/p>\n<\/div>\n

\n

According to the data, there were around three million frauds – slightly fewer than in the previous year – with payment card fraud being the most common.<\/p>\n<\/div>\n

\n

UK Finance said losses are not always reimbursed and urged tech firms to “share the burden” of covering costs. <\/p>\n<\/div>\n

\n

Ministers say they will crack down on fraud as part of a national strategy. <\/p>\n<\/div>\n

\n

Fraud is now the most common crime in the UK, with one in 15 people being a victim.<\/p>\n<\/div>\n

\n

Indeed, according to UK Finance, the amount of money stolen in 2022 was 8% lower than in 2021 and fraud cases were down 4% – but overall there were still almost three million cases in the UK.<\/p>\n<\/div>\n

\n

It said the most common type of fraud, after card fraud, was purchase-related scams. <\/p>\n<\/div>\n

\n
\n
    \n
  • It has also been found that love scams \u2013 in which a gang of scammers pretend to be romantically interested in the victim in order to get money \u2013 have increased in 2022.<\/li>\n
  • However, investment scams, where scammers pretend to offer an investment opportunity, fell by a third due to pressure on the cost of living.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
    \n

    Britain’s chief financial officer, David Postings, said drug gangs, overseas criminal groups and “state-sponsored villains” were responsible for the bulk of the fraud.<\/p>\n<\/div>\n

    \n

    He added that while banks are legally required to reimburse so-called unauthorized scams, they do not have to pay the costs of authorized scams, in which victims are tricked into agreeing to transfer money to scammers. <\/p>\n<\/div>\n

    \n

    As a result, banks voluntarily reimbursed only around 59% of losses from this type of fraud, equivalent to \u00a3285.6m of the \u00a3485.2m stolen. <\/p>\n<\/div>\n

    \n

    Mr Postings said many of the most common scams started online and urged tech and telecom companies to play a bigger role in recovering lost funds. <\/p>\n<\/div>\n

    \n
    \n
      \n
    • UK bans all cold calling to sell financial products<\/li>\n
    • Demands refunds for push payment scams for everyone<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
      \n

      However, industry body Tech UK said tech companies are “already taking a wide range of active measures to prevent fraud”.<\/p>\n<\/div>\n

      \n

      Regarding future threats, Mr. Postings said he was concerned about artificial intelligence [AI] would allow scammers to \u201cfake people even more than they already do.\u201d<\/p>\n<\/div>\n

      \n

      He added that AI can be used to automate scams and generate convincing scams to trick people.<\/p>\n<\/div>\n

      \n

      The government recently released a new fraud strategy that allows banks to delay processing payments longer to investigate suspicious payments.<\/p>\n<\/div>\n

      \n

      The strategy also includes banning cold calling for all financial products, such as those related to bogus insurance or bogus cryptocurrency programs, to stop fraud at source.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

      According to banking industry group UK Finance, people in the UK lost \u00a31.2 billion to fraud in 2022, equivalent to \u00a32,300 a minute. According to the data, there were around three million frauds – slightly fewer than in the previous year – with payment card fraud being the most common. UK Finance said losses are […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-94516","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nWarning UK losing \u00a32,300 per minute to fraud - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Warning UK losing \u00a32,300 per minute to fraud\" \/>\n<meta property=\"og:description\" content=\"According to banking industry group UK Finance, people in the UK lost \u00a31.2 billion to fraud in 2022, equivalent to \u00a32,300 a minute. According to the data, there were around three million frauds – slightly fewer than in the previous year – with payment card fraud being the most common. UK Finance said losses are […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/\" \/>\n<meta property=\"og:site_name\" content=\"Tahrir News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-10T23:18:37+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tahrir2day.com\/news\/#website\",\"url\":\"https:\/\/tahrir2day.com\/news\/\",\"name\":\"Tahrir News\",\"description\":\"News all over the world\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tahrir2day.com\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/#webpage\",\"url\":\"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/\",\"name\":\"Warning UK losing \u00a32,300 per minute to fraud - Tahrir News\",\"isPartOf\":{\"@id\":\"https:\/\/tahrir2day.com\/news\/#website\"},\"datePublished\":\"2023-05-10T23:18:37+00:00\",\"dateModified\":\"2023-05-10T23:18:37+00:00\",\"author\":{\"@id\":\"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4\"},\"breadcrumb\":{\"@id\":\"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tahrir2day.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/tahrir2day.com\/news\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Warning UK losing \u00a32,300 per minute to fraud\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4\",\"name\":\"megahed\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/tahrir2day.com\/news\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g\",\"caption\":\"megahed\"},\"sameAs\":[\"https:\/\/tahrir2day.com\/news\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Warning UK losing \u00a32,300 per minute to fraud - Tahrir News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/","og_locale":"en_US","og_type":"article","og_title":"Warning UK losing \u00a32,300 per minute to fraud","og_description":"According to banking industry group UK Finance, people in the UK lost \u00a31.2 billion to fraud in 2022, equivalent to \u00a32,300 a minute. According to the data, there were around three million frauds – slightly fewer than in the previous year – with payment card fraud being the most common. UK Finance said losses are […]","og_url":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/","og_site_name":"Tahrir News","article_published_time":"2023-05-10T23:18:37+00:00","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/tahrir2day.com\/news\/#website","url":"https:\/\/tahrir2day.com\/news\/","name":"Tahrir News","description":"News all over the world","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tahrir2day.com\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/#webpage","url":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/","name":"Warning UK losing \u00a32,300 per minute to fraud - Tahrir News","isPartOf":{"@id":"https:\/\/tahrir2day.com\/news\/#website"},"datePublished":"2023-05-10T23:18:37+00:00","dateModified":"2023-05-10T23:18:37+00:00","author":{"@id":"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4"},"breadcrumb":{"@id":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/tahrir2day.com\/news\/2023\/05\/10\/warning-uk-losing-2300-per-minute-to-fraud\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tahrir2day.com\/news\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/tahrir2day.com\/news\/category\/business\/"},{"@type":"ListItem","position":3,"name":"Warning UK losing \u00a32,300 per minute to fraud"}]},{"@type":"Person","@id":"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4","name":"megahed","image":{"@type":"ImageObject","@id":"https:\/\/tahrir2day.com\/news\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g","caption":"megahed"},"sameAs":["https:\/\/tahrir2day.com\/news"]}]}},"_links":{"self":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/posts\/94516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/comments?post=94516"}],"version-history":[{"count":0,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/posts\/94516\/revisions"}],"wp:attachment":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/media?parent=94516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/categories?post=94516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/tags?post=94516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}