UK Finance - News, Articles & 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

News/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

Company announcement/security

DPCU prevents a record £101 million from being stolen in 2021

A specialist police unit which targets the organised criminal gangs behind fraud prevented a record £101 million from being stolen in 2021, the highest amount in the unit’s 20-year history.

16 May 2022

Company announcement/regulation

New research offers fresh thinking about payments regulation post-Brexit

The Payments Association (formerly The Emerging Payments Association (EPA)), UK Finance, the collective voice for the banking and finance industry, and global law firm Latham & Watkins, today announce the launch of ‘UK Payments Regulation Review: Making sense of where to go now’.

17 March 2022

News/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

News/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

Company announcement/regulation

UK Finance launches supplier assurance framework

The Supplier Assurance Framework is the product of an initiative from the Cross Market Operational Resilience Group (CMORG) which leads financial sector-wide collective action on operational resilience and is co-chaired by senior executives of the Prudential Regulation Authority (PRA) and UK Finance.

24 February 2022

News/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

Company announcement/retail

UK Finance explores future strategy for Open Banking payments

UK Finance brought the payments industry together to consider the future opportunity for open banking payments and how the market could collaboratively shape that future.

22 November 2021

Company announcement/payments

Variable recurring payments hackathon winners named

Open Future World, Ozone API and UK Finance are delighted to announce the winners of the world’s first variable recurring payments hackathon.

18 November 2021

Company announcement

Criminals behind £217K scam jailed for total of 55 months

Two criminals from London have been sentenced at Inner London Crown Court after pleading guilty to conspiring together to commit £217,000 of fraud.

19 October 2021

News/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

Company announcement/security

UK banking industry-funded police unit prevents £85m of fraud

A specialist police unit which targets the organised criminal gangs behind fraud prevented a further £85 million from being stolen in the first half of this year.

20 September 2021

Company announcement/security

Crypto firm Gemini supports UK's Take Five to Stop fraud campaign

Today, we are proud to announce that Gemini has joined the Take Five Charter in the UK alongside other leading financial institutions, banks, and fintechs.

20 September 2021

Company announcement/crypto

UK Finance reports on the financial crime risks from crypt assets

UK Finance, in conjunction with financial crime compliance firm Plenitude, has today released a report looking at the financial crime risk posed by cryptoassets and how to manage it appropriately.

16 September 2021

News/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

News/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