The Billion-Pound Scam

🎧 Payments: Unpacked

Episode:

The Billion-Pound Scam: Fraud in 2024

Host:

Mike Chambers

🔍 Summary:

In 2024, fraudsters stole over £1.17 billion across the UK — and the threat isn’t slowing down. In this episode, we unpack the latest UK Finance fraud report and explore:

• The rise in unauthorised fraud cases

• How banks stopped £1.45 billion in attempted theft

• The evolving danger of APP (Authorised Push Payment) scams

• New reimbursement rules — and what they mean for you

• The link between fraud and organised crime

Whether you’re a consumer, business, or payments professional — this is essential listening.

🔗 Resources:

• UK Finance Fraud Report 2024

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Issue 719: 30 May 2025