Bank industry group UK Finance calls for tech firms to help reimburse fraud victims.
People in the UK lost £1.2bn to fraud in 2022, the equivalent of £2,300 every minute, according to bank industry group UK Finance.
UK Finance said losses were not always reimbursed and urged tech firms to "share the burden" of covering costs.now the most common crime in the UKAccording to UK Finance, the amount of money stolen in 2022 was actually 8% less than in 2021, and fraud cases were down 4% - but there were still nearly three million cases across the UK in total.It also found that romance fraud - where a scamming gang pretends to be romantically interested in the victim to get money - increased in 2022.
UK Finance boss David Postings said drugs gangs, criminal groups abroad and "state-sponsored bad actors" were responsible for the majority of fraud. As a result, banks only refunded about 59% of the losses from this type of fraud on a voluntary basis, amounting to £285.6m of the £485.2m stolen.
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