On 24th May, the House of Commons Library published a briefing paper which seeks to answer frequently asked questions about banking scams, and describes: the scale of the problem; the types of scam; what help is available for victims; and, government and industry action, saying that criminals successfully stole £1.2 billion through banking fraud and scams in 2018.
The briefing paper refers to a March 2019 report from UK Finance – “FRAUD THE FACTS 2019: The definitive overview of payment industry fraud”. This refers to the various types of fraud –
- Card frauds – Unauthorised debit, credit and other payment card fraud; Remote purchase (Card-not-present) fraud; Counterfeit Card Fraud; Lost and Stolen Card Fraud; Card ID theft; Card not-received fraud; Internet/e-commerce card fraud losses; Card fraud at UK cash machines; and Card fraud abroad.
- Cheque fraud.
- Unauthorised remote banking fraud.
- Authorised Push Payment (APP) fraud