Reports And Trends Growing Threat Of Fraud & Financial Crime
The banking and finance industry spends billions of pounds each year fighting fraud and economic crime. However, the majority of fraud originates outside the banking sector and UK Finance has conducted analysis on over 59,000 APP fraud cases to show the sources of fraud. Within the total figure, unauthorised fraud losses across payment cards, remote banking and cheques reached £726.9 million in 2022, a decrease of less than one per cent compared to 2021. Contact the fraud department of your lender, card issuer, or financial institution and explain the situation. They’ll be able to help you freeze or close your accounts and get new cards. You’ll also need to file a report with the FTC at IdentityTheft.gov and file a police report if your physical card was stolen. Tax refund fraud is a type of identity theft where criminals fraudulently file tax returns in your name. They’ll report incorrect income in order to maximize your refund, which the criminal will then deposit. Most people get st...