The Cost of Fraud
There’s a disturbing amount of customer money unwittingly handed to fraudsters each year. In 2017 alone, a staggering £240 million was taken from account holders. What’s more, UK Finance has released data highlighting a decline in cash payments by 15 percent over the last year to 13.1 billion – while card payments pulled ahead for the first time ever with 13.2 billion. With these huge sums of missing customer money and card usage skyrocketing, comes more pressure than ever for financial organisations to up their payment security offering at all stages of transactions.