UKFinance reported fraud grew 28% in 2019 to £456 million with Faster Payments, 73% of that total, growing at 33%. UKFinance noted 76% of the fraud comes from the internet and the banking industry covers 98% of the fraud losses. If continued unchecked this could total £1 billion within three years. In addition, COVID 19 has turbo charged the move ...
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UK Faster Payments