Overview

• Criminals stole £1.17 billion through authorised and unauthorised fraud in 2024, with total case numbers rising 12% to 3.31 million despite stable overall losses.
• Unauthorised fraud incidents climbed 14% to 3.13 million, driven by a 22% surge in remote purchase scams using stolen card details.
• Banks’ security measures prevented £1.45 billion of unauthorised fraud, shielding customers from further financial harm.
• Authorised push payment fraud cases fell by 20% to under 186,000—the lowest annual figure since 2020.
• Following the Payment Systems Regulator’s October rules, 86% of authorised push payment scam losses were refunded to victims within the first three months.