UK Bank Customers Lost Around £500m To Scams In First Half Of 2018

According to the figures, in the first half of 2018 Scammers have stolen almost £500m from the UK bank customers. UK Finance said that the total of £145m was lost due to the authorised push payment(APP).

The rest of the £358m was lost because of unauthorised fraud and the transaction has been carried out by the third party and was not authorised by the account holder.

In maximum cases, victims of unauthorised fraud acquire a complete refund, however, the ones duped via app scams presently have no prison protection to cover them for losses. According to the UK Finance £30.9m of the £145m has been lost through the APP scams this year and has been returned to the customers.