Anti-Financial Crime & Financial Crime Compliance
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AML, Financial Crime, UK

NEWS: Rise in romance scams help push UK fraud losses to over £1BN in 2023

By Paul O Donoghue

A total of £1.17bn was stolen from fraud victims in 2023 amid a rise in the number of  authorised push payment (APP) scams, according to data from trade body UK Finance.

The overall amount taken from customers of UK financial institutions was a slight 4% reduction compared to 2022, when £1.22 billion was stolen.

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