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UK PSR report highlights scale of APP fraud

A man checks his phone as he stands next to a gaint Union flag.
Photo: Peter Dazeley/Getty Images

Thomas Hyrkiel

3 min read
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£341m lost to APP scams in 2023 in the UK alone.

There has been an increase in the number of authorized push payment (APP) scams in the UK, but a commensurate decrease in the value of them. That’s according to the latest report from the Payment Systems Regulator (PSR).

The PSR collected faster payments data from 14 of the largest banking

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