More than £32 million of fraud has been prevented by the finance industry and the police through the Banking Protocol scheme in the first half of 2021, new UK Finance figures have revealed. The figures are up 65% compared to the same period last year and brings the total amount of fraud prevented to £174 million since…

TransUnion’s latest quarterly analysis has found that fraudsters are refocusing their efforts from financial services to other industries, with travel and leisure topping the table. Across industries, the rate of suspected digital fraud attempts rose 17% globally when comparing Q2 2021 to Q2 2020. Travel and leisure was one of the most impacted industries globally…

The number of alleged fraud cases being heard in UK courts in the first half of 2021 has almost doubled compared to the same time in 2020, as UK courts saw a continued recovery in the system following Covid-19 lockdowns. Figures from KPMG UK’s Fraud Barometer, found 151 alleged fraud cases were heard in the…

HMRC has launched 12,828 investigations into the use of the Government’s pandemic-related business support schemes, looking into potential fraud and other non-compliance with rules. Analysis by law firm BLM shows there were 7,384 investigations related to the job retention scheme, 5,020 linked to the self-employment income support scheme and 424 related to Eat Out to…

New research figures from Mazars show that almost 40,000 businesses were struck off the Companies House register in the first three months of the year, a rise of 743% on Q1 2020. Strike-offs from Companies House increased to 39,601 in the first three months of 2021 compared to just 4,695 in the same period in…

Credit reference agency TransUnion has announced that it has launched its enhanced data breach support service for businesses in the UK. The data breach support service will enable an organisation’s customers to access their credit information and also offers specific features to help safeguard their identity. The tools will help businesses protect consumers whose information…

Consumer watchdog Which? says banks should show how many customers are repaid money from accounts lost due to fraud. Most large banks compensate some funds to customers who are defrauded by criminals and publish information on compensation rates as a group, with only Barclays and TSB committing to doing so individually. Which? says Banks must…

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