UK Finance

138 results about this entity

Period: 02 Jan 2002 - 23 Apr 2024

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Pay.UK knocks back Faster Payments fees to cover APP fraud

Pay.UK knocks back Faster Payments fees to cover APP fraud

Proposals by seven UK banks to levy a per transaction fee for for certain Faster Payment transactions as a means to provide a long-term, sustainable funding arrangement for the reimbursement of APP scam victims, have been knocked back by governing body Pay.UK following an industry-wide consultation.

UK Finance: No silver bullet for solving local access to cash

UK Finance is today providing an update on the banking and finance industry’s commitment to help local communities secure appropriate free access to cash for customers.

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Banking industry stops £4.5mn of fraudulent payments per day, UK Finance finds

The finance industry prevented £820 million of unauthorised fraud in the first half of 2019, up 14 per cent on the previous year, according to the latest figures from UK Finance.

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Industry-funded fraud squad dismantles double the number of criminal gangs in first half of 2019

13 Organised Crime Groups (OCGs) were dismantled by the Dedicated Card and Payment Crime Unit (DCPCU) in the first half of 2019, double the number in the same period last year, according to the latest figures from UK Finance.

UK Finance recommends 18-month delay for new authentication rules

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UK Finance recommends 18-month delay for new authentication rules

UK Finance is recommending a minimum 18-month delay to the introduction of Secure Customer Authentication rules in the UK, with a further one-year extension for the hospitality and travel sector.

UK banks commit to free access to cash

/inclusion

UK banks commit to free access to cash

The UK banking industry is promising to work with local communities to ensure that Brits continue to have free access to cash as the country drifts towards a digital economy.

Millions of Brits go cashless amid rise of contactless and mobile banking

/payments

Millions of Brits go cashless amid rise of contactless and mobile banking

With mobile banking and contactless payments becoming ever more popular in the UK, one in 10 Brits now live a largely cashless life, according to figures from UK Finance.

Which?: APP losses are 'spiralling out of control'

Which?: APP losses are 'spiralling out of control'

Ahead of the introduction of a new voluntary code to reimburse customers who fall victim to authorised push payment (APP) fraud, consumer group Which? says that losses from money transfer scams are 'spiralling out of control', with £674 per minute drained from consumer accounts.

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Businesses lose £93m to invoice scams in 2018 but four in ten unaware of risk

Over four in ten businesses in the UK are unaware of the risks posed by invoice fraud, despite these scams costing firms almost £93 million in 2018, research by UK Finance has revealed.

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Criminals stole £1.2 billion from UK bank accounts in 2018

The finance industry prevented £1.66 billion of unauthorised fraud during 2018, effectively stopping £2 in every £3 of attempted unauthorised fraud, according to the latest report, Fraud the Facts 2019, from UK Finance

UK embraces contactless payments

UK embraces contactless payments

Total UK contactless spending rose by nearly a third last year to £69 billion, with tap and pay now accounting for more than 40% of all card transactions, according to industry figures.

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UK Finance launches online guide to ethics in banking

‘Ethics in Banking and Finance’ – a new online guide launched by UK Finance, the trade body representing the banking and finance industry, in partnership with law firm Linklaters, provides firms and individuals operating in the sector with key reference points for governance, strategy and decision-making informed by ethical principles.

The numbers don't add up: universal provision of access to cash called into question

/payments

The numbers don't add up: universal provision of access to cash called into question

The UK's Treasury Committee has called for urgent action to prevent the collapse of access to cash as ATM numbers drop and bank branches disappear from the high street.

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UK Finance responds to APP Steering Group consultation

Responding to the publication of the consultation responses by the Authorised Push Payments Steering Group on its draft Voluntary Code, Stephen Jones, Chief Executive of UK Finance said:

Crosswell and Parsons join UK Finance board

UK Finance has today announced the appointment of Charlotte Crosswell, CEO, Innovate Finance, and Mark Parsons, Chief Executive Officer and Executive Director, Coventry Building Society, to its Board.

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UK consumers get clearer current account information

From today, consumers will be able to compare clearer and more consistent information about the additional services current account providers offer all customers, including those in potentially vulnerable circumstances, after a voluntary commitment made by the finance industry comes into action.

UK Finance proposes payments tax to compensate fraud victims

UK Finance proposes payments tax to compensate fraud victims

Banking lobby UK Finance has floated the idea of imposing a universal tax on funds transfers which banks could dip into to compensate victims of push payments fraud.

New legislation may be needed to address APP fraud

New legislation may be needed to address APP fraud

Moves to reimburse consumers who fall victim to push payment fraud has come a step closer with the publication of a draft voluntary code drawn up by a steering group of UK banks and consumer rights campaigners.

Scammers steal £500m from UK bank customers in six months

Scammers steal £500m from UK bank customers in six months

Criminals stole more than £500 million from UK bank account holders in the first half of 2018, according to industry figures.

UK and EU banks plan early warning systems

UK and EU banks plan early warning systems

Both UK and European banks are separately looking at projects to design an early warning system using market data to mitigate the threat of major misconduct or the beginning of the next financial crisis.

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