You can use the search function to find a range of UK Finance material, from consultation responses to thought leadership to blogs, or to find content on a range of topics from Capital Markets & Wholesale to Payments & Innovation.
The latest survey commissioned by UK Finance shows:
Over half (55 per cent) of people who use online dating services are leaving themselves vulnerable to being scammed, by trusting that the person they are in contact with is who they say they are before meeting in real life. With romance scams on the increase - up 64 per cent in the first half of 2019 compared to the same period the year before - UK Finance is warning singles that not everything is always as it seems.
Romance scams involve criminals persuading victims to make a payment to them after meeting, often online through dating sites, and convincing them they are in a relationship.
According to a new survey commissioned by UK Finance, one in five (21 per cent) of people using online dating services say that they have either been asked for money or have given money to someone that they met online. Men (26 per cent) were more likely to be asked for money than women (15 per cent).
The average amount of money that was requested or given was £321, although some respondents were asked for greater sums. UK Finance data3 showed that £7.9 million was lost to romance scams in the first half of 2019, an increase of 50 per cent on the previous year.
Katy Worobec, Managing Director of Economic Crime at UK Finance, said:
?Romance scams are both emotionally and financially damaging for victims. The popularity of online dating services has made it easier for criminals to target victims, so we urge everyone to be cautious this Valentine's.
?Although banks are always looking out for suspicious activity, customers must be on their guard and protect themselves too. Always be wary of requests for money from someone you?ve never met in person. If you think you?ve been the victim of a romance scam, contact your bank immediately.?
The data also shows:
How to stay safe from romance scams:
<ol><li>Methodology: Savanta ComRes interviewed 2,011 British adults online between 31st January and 3rd February. Data were weighted to be demographically representative of all British adults. Savanta ComRes is a member of the British Polling Council and abides by its rules.</li>
<li>UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.<br />
<li>For more advice on how to stay safe from scams, visit the <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… Five to Stop Fraud</a> website.</li>
<li>Figures on losses to romance scams are sourced from UK Finance?s <a href="https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2F74n5c4… Half year fraud update</a> (see p.29).</li>
<li>The Authorised Push Payment (APP) voluntary Code sets out increased consumer protection standards which will help reduce the occurrence of APP scams. To help protect customers, payment service providers that have signed up to the Code commit to:</li>
</ol><ul><li>Protect their customers with procedures to detect, prevent and respond to APP scams, providing a greater level of protection for customers considered to be vulnerable to this type of fraud; and</li>
<li>Greater prevention of accounts being used to launder the proceeds of APP scams, including procedures to prevent, detect and respond to the receipt of funds from this type of fraud.</li>