Financial fraud should be treated as a national security threat, experts have said. An industry trade body warned criminal gangs were now bypassing banks’ advanced security systems and targeting customers directly. UK Finance said £90.5million of APP scams was due to criminals impersonating people such as bank staff or police. The number of individuals being scammed are increasing exponentially and are not being saved, leaving them helpless.
How can technology be improved to combat this ever growing issue?