Data from the UK financial trade body UK Finance has revealed that a total of £503.4 million was stolen by criminals through authorised and unauthorised fraud in the first six months of 2018.

The Association of British Insurers has warned the public to put the phone down on cold-callers passing themselves off as the ABI.

The Financial Ombudsman Service has told banks they should take into account the “evolution and sophistication” of frauds and scams – and not simply assume that their customers were “grossly negligent.”  

As the joint FCA/TPR ScamSmart campaign kicked off yesterday the regulator posted a tweet of a would-be scammer living the high-life on a jet-ski.