After a year where Brits were on track to lose over £1bn to scammers, the consumer protection tide may be finally turning, according to an experienced fraud prevention expert.

Throughout 2023, scams involving holiday bookings, online romance, courier deliveries, fake online retailers, and even HMRC tax returns have dogged UK households.

https://www.yourmoney.com/household-bills/interview-with-mike-haley-head-of-cifas-tide-is-turning-on-fraudsters/

https://www.itv.com/watch/news/stop-think-fraud-government-launches-anti-fraud-campaign-to-help-protect-people-from-crime/0kbc359

Three men who laundered funds fraudulently obtained from 350 people who were tricked into investing more than £12 million in non-existent or worthless shares have been sentenced today.

Some victims invested tens of thousands of pounds they had saved for their retirement and will have to continue working for longer than they had planned. The largest amount lost by a single victim was £300,000.

The head of the UK’s anti-fraud agency will set out his vision for a “bolder, pragmatic, more proactive” prosecutor this week in his first public speech since taking up the position late last year.

The director of the Serious Fraud Office (SFO), Nick Ephgrave, is set to give his maiden speech tomorrow evening at an event hosted by defence and security think tank Royal United Services Institute.

https://www.cityam.com/sfo-boss-to-promise-more-dawn-raids-and-swifter-action-to-tackle-fraud/

AI-enhanced attacks are on the rise, leaving many organisations’ cybersecurity unprepared for the volume of new challenges; reveals cyber protection firm, Acronis, in its latest cyber threats report.

https://thefintechtimes.com/91-1-of-organisations-impacted-by-ai-enhanced-phishing-attacks-acronis-reports/

A long-awaited report into the behaviour of the banks at the centre of the HBOS Reading scandal has been pushed back – meaning victims remain without closure more than a decade on from one of Britain’s worst corporate frauds.

In January 2017, six people – two of them former HBOS staff – were convicted for criminal misconduct between 2003 and 2007.

https://www.cityam.com/another-post-office-hbos-reading-fraud-scandal-report-delayed-yet-again/

Council homes are increasingly being rented out as holiday lets, fuelling a surge in fraud that is costing taxpayers £6.2bn, i can reveal.

Fraud investigators and local authorities said Airbnb, Booking.com and other popular platforms are doing too little to block illegal adverts of social homes.

https://www.msn.com/en-gb/money/technology/council-homes-illegally-rented-on-apps-like-airbnb-costing-taxpayers-extra-6-2bn/ar-BB1i4DKj?ocid=socialshare

A major campaign to transform the fight against fraudsters launches today (12 February 2024).

Stop! Think Fraud is backed by leading counter fraud experts who are uniting under one voice to provide consistent, clear and robust anti-fraud advice to the public.

Fraud accounts for around 40% of all crime in England and Wales, with an estimated 3.2 million offences each year. The latest data from the Crime Survey of England and Wales shows it has reduced by 13% over the past year. The estimated cost of fraud to society is £6.8 billion in England and Wales.

https://www.gov.uk/government/news/major-campaign-to-fight-fraud-launched#:~:text=12%20February%202024).-,Stop!,3.2%20million%20offences%20each%20year

The Financial Conduct Authority (FCA) has launched a fresh call for social media firms to do more to prevent mass fraud on their platforms, City A.M. can reveal.

The City watchdog said in a report on Thursday that it issued 2,286 warnings last year alerting consumers about firms and individuals operating without its authorisation, up 21 per cent from 1,882 in 2022.

https://www.cityam.com/fca-urges-big-tech-to-crack-down-on-fraud-amid-rise-in-unauthorised-firms/

A director at TSB Bank has warned a group of top MPs that Facebook Marketplace and cryptocurrency investment are major breeding grounds for scams amid calls for Big Tech to take more responsibility for a wave of fraud on social media.

The Home Affairs Committee heard from major banking and communications firms heard on Wednesday as part of its inquiry into fraud, which makes up around 40 per cent of crime in England and Wales.

https://www.cityam.com/about-a-third-of-facebook-marketplace-listings-could-be-scams-mps-told/