Fraud is evolving: the need for cross-industry collaboration

Fraud is evolving: the need for cross-industry collaboration

With fraud now the most prevalent crime in the UK, and attempts continuing to increase, as reported by the Office of National Statistics (ONS) with a 19% surge over the last year, the urgency for immediate action is apparent. Yet, despite UK Finance recording 3.31 million instances of fraud in 2024, the UK remains a global leader in reducing fraud losses. The industry prevented £1.14bn of unauthorised fraud last year, equivalent to stopping 67p …