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The Independent UK

Business

Vicky Shaw

Customers conned into sharing passcodes as online fraud cases surge in UK

UK Finance Online United Kingdom PSR

UK Finance recorded 3.13 million cases of unauthorised fraud in 2024 – where money is taken from someone’s account by a third party, without the account holder’s consent - (Getty Images/iStockphoto)

A banking and finance industry body has warned that fraudsters are changing their methods to purchase items online using stolen information, sometimes deceiving individuals into revealing their one-time passcodes.

UK Finance reported 3.13 million cases of unauthorised fraud in 2024, marking a 14 per cent increase compared to 2023.

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