APP fraud losses overtook card crime in H1 2021
According to recent data from UK Finance, losses from approved push payments fraud surpassed losses from card fraud for the first time in H1 2021.
Unauthorized frauds, especially using payment cards, have accounted for the majority of fraud losses in past years.
However, this year, thieves concentrated their efforts on APP fraud, in which a consumer is misled into authorizing a payment to a criminal's account.
Read the full article here.