UK Finance have released their Annual Fraud Report detailing the money reported by UK Finance members that was stolen by criminals through financial fraud in 2022.
Key findings include:
Over £1.2 billion was stolen by criminals in 2022 or £2300 every minuet
78% of APP fraud cases start online and 18% via telecommunications
A further £1.2 billion of potential losses were prevented
In 2022 there was a drop of 4% in the number of fraud cases compared to 2021, to almost 3 million cases.