The Fintech Times

AUGUST 31, 2024

Previously, the highest number of scams in new wallets was 29.9 per cent in 2022. Interestingly, while crypto scams might be on the rise, their lifetime has actually decreased. According to the second part of the Mid-Year Crime Update , in 2020, scams that started at the beginning of the year lasted 271 days.

Romance Scams 59

Romance Scams Scams Law Enforcement Crime 59

Finextra

FEBRUARY 5, 2024

The number of people falling victim to romance scams increased by a fifth (22%) in 2023, compared to 2022, according to the latest data from Lloyds Bank.

Romance Scams 45

Romance Scams Scams 45

Fintech News

FEBRUARY 15, 2024

billion in 2022, new data released by blockchain analysis firm Chainalysis reveal. Value received by illicit crypto addresses dropped significantly in 2023, driven by a decline in crypto scamming and hacking revenue by 29.2% In 2023, the value received by illicit cryptocurrency addresses amounted to US$24.2 and 54.3%, respectively.

Ransomware 84

Ransomware Crime Transactions Romance Scams 84

The Fintech Times

AUGUST 2, 2024

Under the existing voluntary reimbursement framework, 67 per cent of money lost to APP scams was reimbursed. While this has improved between 2022 (61 per cent) and 2023 (67 per cent), the PSR reveals there is still an inconsistent approach by firms when it comes to reimbursing victims of APP fraud.

Scams 64

Scams Romance Scams CRM Monetary Loss 64

Neopay

MAY 28, 2024

UK Finance releases its 2024 annual fraud report, detailing the amount its members reported as stolen through payment fraud and scams in 2023. billion through unauthorised and authorised fraud in 2023, a four per cent decrease compared to 2022. million this year, down three per cent compared to 2022. Criminals stole £1.17

Scams 52

Scams Push-to-Card Romance Scams Crime 52

The Fintech Times

MAY 22, 2024

Last year, UK Finance announced that over £1.2billion was stolen through fraud throughout 2022. Looking at this type of fraud beyond card ID theft, UK Finance announced that losses due to unauthorised transactions across payment cards, remote banking and cheques were £708.7million this year, down three per cent compared to 2022.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

Seon

APRIL 18, 2024

billion in 2022 , facing a formidable opponent in the financial sector: authorized push payment (APP) fraud. Often, the fraudsters enter through impersonation, a romance scam or another type of social engineering fraud scam. The United States is poised to witness losses increase to $3 billion by 2027, up from $1.94

Authorization 52

Authorization Technology Fraud Prevention Real Time Payments 52