Scammers keep scoring: Brits fleeced for £1.3B as Americans lose $3.5B to impersonators

**TL;DR:** Scammers keep scoring: Brits fleeced for £1.3B as Americans lose $3.5B to impersonators

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7 billion) to payment fraud last year as scams continued to thrive on online platforms and telecoms networks, according to the latest figures from banking trade association UK Finance. The 2025 losses represent a modest four percent rise on the previous year, the trade association said, but the main sources of fraud remained familiar. UK Finance said two-thirds (66 percent) of incidents start with online platforms, such as scams promoted through social media adverts.

Telecoms accounts for a smaller proportion (17 percent) but encompasses crimes such as impersonation fraud, which can result in larger per-crime losses. Calling for tighter regulations on tech and telecoms, UK Finance said online marketplaces must take measures to reduce scammers' use of their platforms. This could include prohibiting off-platform payments, relying solely on secure alternatives. It also called for stronger action against fraudulent social media advertising.

"The financial sector invests huge amounts in protecting customers, but we cannot be the only line of defense," said Ruth Ray, managing director of economic crime at UK Finance. 3 billion was stolen again last

Source: The Register

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Last updated: June 16, 2026.

Additional context: early-cycle stories often look bigger in headlines than in day-to-day impact. The useful move is to identify the smallest set of facts that would change your decision, then wait for those facts to land.

Additional context: early-cycle stories often look bigger in headlines than in day-to-day impact. The useful move is to identify the smallest set of facts that would change your decision, then wait for those facts to land.