2023 sees a record £85.9m lost to purchase scams in UK, with 156,000 cases reported, accounting for two-thirds of APP cases.

UK Finance warns record £85.9m lost to purchase scams in 2023, with 156,000 cases reported, the highest on record. Purchase scams, which involve people paying for goods or services that never materialise, account for around two-thirds of authorised push payment (APP) cases. Lloyds Bank estimates over £1m has already been lost in the UK to fraudsters offering Taylor Swift concert tickets.

May 21, 2024
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