UK FRAUD DOWN BUT NATIONAL SECURITY THREAT, SAY BANKS
October 12th, 2022
British banking trade association UK Finance is warning that “the level of fraud in the UK has reached a point where it must be considered a national security threat”. In its ‘2022 half year fraud update' (1), it said that despite spending billions on fraud prevention, “the banking sector cannot solve this on its own.” UK Finance as a result called for a coordinated cross-sectoral approach to tackling fraud where the “common factor” is use of online platforms, “including fraudulent advertising on search engines, fake websites and posts on social ...
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