City Of London
UK Financial Fraudsters Made Off With Over £1.2 Billion in 2022
- Stolen bank card details account for biggest chunk of losses
- More than £2,300 stolen every minute, UK Finance report says
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Around £1.2 billion ($1.5 billion) was stolen through authorized and unauthorized financial fraud in the UK in 2022, underlining the scale of a problem that continues to beset the banking industry.
The losses are equivalent to £2,300 being stolen every single minute last year, according to a report by UK Finance, a lobby group for the industry. Banks stopped a further £1.2 billion of unauthorized fraud last year, the report said.