Source: Payment Systems Regulator
Authorised push payment (APP) fraud happens when a fraudster tricks someone into sending a payment to an account outside of their control. There are more incidents of fraud than any other crime type in the UK, with APP fraud accounting for 40% of fraud losses in 2022.
In a significant step towards greater transparency, we are publishing 2022 data (from 1 January 2022 to 31 December 2022), covering:
- the reimbursement of victims (from the largest 14 banking groups)
- how much money is sent from each payment firm as a result of APP fraud (from the largest 14 banking groups)
- how much money is received by each payment firm as a result of APP fraud (all payment firms in the UK)
The data includes the UK’s 14 largest banking groups (directed firms), along with the data for nine other smaller firms that were in the top 20 highest receivers of fraud (non-directed firms).
This means, for the first time, you will be able to see the full extent of how well your bank has performed in tackling APP fraud and how they treated victims in the last year, compared to other UK banks and payment firms.
On this page you’ll find this comparison data, as well as the full downloadable report. We will continue to collect data from payment firms over the next 12 months and will publish 2023’s report next year.
To ensure more consistent consumer protections are in place, we have also been pushing forward mandatory reimbursement requirements for victims of APP scams which will come into force in 2024.
The UK’s payment firms have also seen additional interventions from the PSR to improve data sharing to spot and prevent scams, and the roll-out of the name-checking service, Confirmation of Payee.
