Fraud soars by 53% in a year
Official industry data shows that a total of 1,007,094 cases of financial fraud – involving online and phone banking, debit and credit cards, and cheques – occurred between 1 January and 30 June this year. That compares with the 660,308 cases reported during the same six-month period in 2015.
This means that an incident is happening every 15 seconds, according to Financial Fraud Action UK (FFA UK), whose members include the major banks and card issuers, and which issued the data.