Latest UK Finance News: Finextra Research

UK Finance reveals huge rise in APP fraud

The lastest fraud figures released by UK Finance reveal a huge rise in authorised push payment (APP) fraud in 2021, with losses 39% up on the same period in 2020.

29 June 2022

/regulation

UK to overhaul Consumer Credit Act

The UK government says it will reform the "highly prescriptive and increasingly cumbersome and inflexible" Consumer Credit Act, moving much of it from statute to sit under the FCA to foster innovation while maintaining consumer protections.

16 June 2022

/payments

Contactless payments soar as limit increase takes effect

The lifting of the limit on contactless payments to £100 in the UK has led to a surge in tap-and-pay transactions, as consumers use the touchless checkout method to pay for higher value items.

17 March 2022

/security

UK Government acts on online advert scams

The UK Government has confirmed that a new legal duty will be added to the Online Safety Bill requiring the largest and most popular social media platforms and search engines to prevent paid-for fraudulent adverts appearing on their services.

09 March 2022

/regulation

UK Finance expresses fears over FCA Consumer Duty proposals

Banking industry body UK Finance has raised serious misgivings about the FCA's plans to impose a new 'Customer Duty' on financial firms with the intention of ensuring a more consistent standard of consumer protection for users of financial services.

16 February 2022

/security

APP fraud losses overtake card crime in H1 2021

Losses to authorised push payments fraud topped card fraud for the first time in H1 2021, acccording to new figures from UK Finance.

22 September 2021

/security

Top tech companies pledge £1 million to UK anti-fraud campaign

Major technology companies, including Google, Facebook, Instagram, Twitter, Amazon, Microsoft and TikTok have pledged £1 million to an anti-fraud campaign in the UK

15 September 2021

/security

Too polite to say no: Losses from impersonation scams more than double in H1

The public is being warned about a sharp increase in fraudulent calls, texts and emails as new figures from UK Finance show the number of impersonation scam cases more than doubled in the first half of 2021 to 33,115.

13 September 2021

/payments

Charities suffer as UK public hoards loose change

Figures from UK Finance show that the British public are sitting on piles of loose change worth an estimated £50 million.

03 September 2021

/payments

UK contactless limit to rise to £100 in October

Brits will be able to make contactless payments of up to £100 from 15 October, UK Finance has confirmed.

27 August 2021

/payments

Pandemic drives annual surge in A2A payments and contactless transactions in UK

During 2020 the number of contactless payments made in the UK increased by 12% to 9.6 billion payments, with the pandemic driving a mass-market switch away from physical cash.

16 June 2021

/payments

UK retailers sign up to cash acceptance pledge

Thousands of supermarket and shops around the UK have signed up to a cash-friendly pledge from consumer champion Which?, guaranteeing that they will continue to accept notes and coins as an alternative to digital payments.

13 May 2021

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