A criminal trial that began back in September 2015 has finally concluded with guilty verdicts for a married couple from Renfrewshire, reports the BBC.
The latest figures from Financial Fraud Action UK show that financial fraud losses across payment cards, remote banking and cheques totalled £768.8 million in 2016, which is an increase of 2% compared to the previous year.
A rise in the number of so-called “super cases” has led to the value of alleged fraud breaking the £1bn barrier in 2016, which is apparently the first time since 2011 that fraud has reached this level.
There was a large increase in card fraud losses in the UK in 2015, according to new analysis by analytic software firm FICO.
Total losses as a result of financial fraud involving payment cards, remote banking and cheques amounted to £755 million in the UK in 2015, according to Financial Fraud Action (FFA) UK. This is an increase of 26% compared to the previous year.
The total value of reported fraud in 2015 rose to £1.5 billion, which is apparently an increase of 110% from the previous year and the highest value since 2011.
There has been a significant rise in detected and prevented fraud attempts in the second half of 2013, as financial services providers push forward in the fight against credit application fraud.
