with a better browsing experience; allow us to assess, monitor, and improve the website’s
performance; and enable our partners to advertise to you. You may disable the cookies by changing
the settings in your browser, and you may tell us not to share your cookie data with third parties.
Banks invest heavily to protect their customers, but protection is difficult when a customer becomes the victim of a scam and unknowingly sends money to a criminal directly from their account. Losses from Authorised Push Payment (APP) schemes cost victims over £455 million in the UK in 2019, a 29% increase over 2018. While fraudsters showed a propensity to perpetrate these schemes against personal accounts (£317.1 million), business accounts (£138.7 million) were also significantly impacted. Across Europe, similar patterns were found, with more than €24 billion in financial losses from scams over the past two-year period.