( November 21, 2024, 10:54 GMT | Official Statement) -- MLex Summary: Most UK consumers – 61 percent – reporting authorized push purchase, or APP, fraud have fallen victim to purchase scams, the Payment Systems Regulator said today. Delivery and investment scams were also reported frequently by those experiencing fraud in the last five years. The PSR said that 41 percent of victims reported a loss of trust in social media firms, four times as many as those who lost trust in banks, underscoring the need for online marketplaces and social media firms to take greater responsibility in preventing fraud. Statement below, study attached. ...
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