UK authorized push payment fraud losses rise 12%
Authorized push payment (APP) fraud led to an increase in payments fraud and fraud losses in the UK during the first half of the year.
During this period, APP losses increased by 12% year-on-year to 257.5 million pounds (approximately $342.5 million), while losses from unauthorized transactions such as payment cards, remote banking and checks fell by 3% to 372 million pounds (approximately $494 million). UK Finance said Friday (October 24) Press release.
In terms of the total number of cases recorded, compared to the first half of 2024, APP cases decreased by 8% to 110,747 cases; unauthorized transactions increased by 19% to 1.98 million cases.
Investment fraud accounts for the largest portion of APP's losses, with £97.7 million (approximately $130 million) lost through such scams. This is a 55% increase from the previous year. In these scams, criminals convince victims to transfer funds into virtual funds or fake investments.
Other forms of APP fraud include purchase scams, where victims pay upfront for goods or services they never receive; romance scams, where victims are tricked into believing they are in love; and impersonating police or bank officials.
In the first half of 2025, losses from purchase fraud increased by 10%; losses from romance fraud increased by 35%; losses from impersonation fraud decreased by 14%.
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The Treasury said the decline in impersonation scams was partly down to education campaigns.
According to the press release, most app fraud begins online or on telecommunications platforms. Internet cases accounted for 30% and 66% of the value and number of APP fraud cases, while telecom platform cases accounted for 29% and 17% of the value and number of APP fraud cases.
“Despite continued investment and preventive measures in the industry, most fraud originates online and over the phone outside the banking system, with manipulation starting long before payments are made,” Ben DonaldsonUK Finance's managing director of economic crime said in a press release.
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