A unified front against fraud: Securing the UK's payments future

The UK's payment landscape is undergoing a rapid transformation. While regulatory initiatives, such as the mandatory authorized push payment (APP) reimbursement scheme, provide safeguards, sophisticated cyber-attacks and elaborate scams relentlessly evolve.

To reduce fraud, strong data-sharing frameworks and collaboration across the financial services industry are essential. Collaboration between big tech, telecoms, banks and the public sector can help combat fraud through a joined-up approach to data-sharing aimed at driving out scammers and identifying potentially fraudulent transactions.

Current landscape

The scale of UK fraud is stark, with losses reaching £1.28 billion in 2025, a 4% increase year-on-year. Fraud is now operating on an industrial scale, with criminals using increasingly advanced tools and techniques to target victims. Fraud increasingly funds serious and organized crime in the UK and globally, reinforcing its status as a national security threat.

Authorized Push Payment (APP) fraud is a growing area of concern – this type of...

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