Continuity Monetary Loss Scams 
PYMNTS
JANUARY 27, 2020
The Business Email Compromise (BEC) continues to evolve. Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. BEC is not the only cyberattack causing corporate losses, however, as ransomware threats continue to ramp up as well.
The Fintech Times
AUGUST 2, 2024
In 2023, Authorised Push Payment (APP) scams totalled just shy of £341million in the UK, with new research highlighting that reimbursement varies significantly depending on who consumers bank with. In the same year, victims reported 252,626 cases of APP scams – but not all reports resulted in refunds from their banks.
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FICO
SEPTEMBER 16, 2020
UK banks continued to strengthen and improve their systems, taking the learnings from the 2018 spikes to better control future compromises, and take the next steps forward to further improve Card Not Present (CNP) protection. See the interactive map at www.fico.com/europeanfraud. Card Fraud Across Europe. by Toby Carlin.
FICO
JUNE 21, 2021
In a year that presented fraudsters with new opportunities to exploit consumers, UK financial institutions continued to lead the charge to reduce European card fraud. It achieved the third best reduction in fraud loss of the studied countries, reducing fraud levels by €2M (39 percent). Hungary also made significant progress.
PYMNTS
DECEMBER 16, 2020
The industry as a whole lost $165 billion in revenue between March and July, and it is on track to lose $240 billion by 2021 — with the decline expected to continue until the pandemic abates. Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector.
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