October 20, 2021

Brits lost £754 MILLION to fraud in the first half of 2021: here’s how to stay safe

Image source: Getty Images

Fraud is a serious crime and it’s evolving at an alarming rate in the UK. According to the latest stats from UK Finance, Brits lost a staggering £754 million to fraud in the first half of 2021, up 30% on the same period last year.

So, in the midst of rising fraud cases in the UK, what can you do to safeguard yourself? Let’s find out.

What’s the current fraud situation in the UK?

The pandemic has provided a fertile ground for criminals according to the latest fraud stats from UK Finance.

Covid-19 has accelerated fraud in the UK to a level that is now a ‘national security threat’. Criminals are coming up with increasingly innovative ways to scam their victims.

While the largest losses in previous years have involved bank cards, UK finance says that this year, criminals have focused on authorised push payment (APP) fraud. This involves the victim being tricked into…

Read full article here: www.fool.co.uk