Fraud Remains a National Security Threat as Criminals Steal Almost £1.3 Billion

SquareTrade Comments on UK Fraud Levels

With UK Finance data published recently revealing that fraudsters stole almost £1.3 billion from UK consumers last year, here are some comments from Aditya Hindocha, VP Account Partnerships at SquareTrade Europe, on how the figures [...] The post SquareTrade Comments on UK Fraud Levels appeared first on .

UK Finance: Fraud losses hit £1.28bn as criminals exploit human trust

UK Finance’s Annual Fraud Report reveals investment and purchase scams at record highs, as banks press tech and telecoms firms to share the fraud burden Criminals stole £1.28bn ($1.72bn) through payment fraud in the UK last year, with fraudsters moving away from technical attacks in favour of targeting people directly. The figures, from UK Finance’s Annual Fraud Report 2026, cover both authorised and unauthorised fraud in 2025, with the figure a…

Fraud remains a national security threat as criminals steal almost £1.3bn - Credit Connect

UK Finance’s latest Annual Fraud Report shows its members reported that criminals stole £1.28 billion through payment fraud in 2025, an increase of four per cent, demonstrating how fraud continues to operate on an industrial scale and is a national security threat. The report also shows that most authorised push payment (APP) fraud cases still start online (66 per cent) or through telecommunication networks (17 per cent) and, building on the gov…

Fraud is ‘national security threat’, as romance scams reach record levels

Fraud is ‘national security threat’, as romance scams reach record levels: Fraud operates “on an industrial scale” and is a threat to national security, according to the latest Annual Fraud Report from UK Finance. The report

Redirected invoice scams down, but fraud remains ‘a national security threat’

Fraud operates “on an industrial scale” and is a threat to national security, according to the latest Annual Fraud Report from UK Finance. The report reveals ‘malicious redirection’ invoice and mandate scams have fallen to their lowest level since 2020, down to £41.3 million. But the total amount of payment fraud reported by UK Finance members in 2025 rose to almost £1.3 billion, up 4% on last year. Intercepted invoices fall under the banner of …

Fraud Remains a National Security Threat as Criminals Steal Almost £1.3 Billion

WHY THIS MATTERS: The financial sector is no longer the sole gatekeeper of security. With fraud losses hitting over £1.2 billion, we are seeing the collapse of traditional perimeter security. The real issue is that 66% of Authorised Push Payment (APP) fraud originates online, placing the burden squarely on tech platforms and telecommunications, rather than just banks. This data exposes the widening gap between the rapid digitization of commerce …