Fraud poses a major threat to the UK. It's a crime that the finance industry is committed to tackling, but it's also one that requires the combined efforts of every sector, both public and private, to overcome.

Our Fraud the Facts 2019 report lays bare the extent of the challenge. Last year the advanced security systems and innovations in which the finance industry invests to protect customers stopped more than £1.6 billion of unauthorised fraud. But despite this, criminals successfully stole £1.2 billion through fraud and scams in 2018. 

These crimes can have a devastating impact on victims. And even if the customer gets the money back from their finance provider, the organised criminal gangs which perpetrate these frauds still profit from the proceeds. Money that may go on to fund illicit acts which damage our society - crimes such as terrorism, drug trafficking and people smuggling.