trending Market Intelligence /marketintelligence/en/news-insights/trending/oxqFgMTN0LRtOSzW9KLUJA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Losses from 'unauthorized' financial fraud rose in 2018, UK Finance says

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Losses from 'unauthorized' financial fraud rose in 2018, UK Finance says

Unauthorized financial fraud losses across payment cards, remote banking and checks in the U.K. amounted to £844.8 million in 2018, up 16% from the previous year, with data breaches at third parties being a major contributor to fraud losses, UK Finance said in a report published March 21.

In 2018, banks and card companies prevented £1.66 billion of unauthorized fraud, wherein a customer account is illegally accessed by the fraudster, but £1.2 billion was successfully stolen by criminals through fraud and scams, according to the trade body's "Fraud the Facts 2019" report.

"During 2018 there were a number of significant data breaches which received extensive media coverage, along with a significant volume of smaller-scale breaches," UK Finance said. The data breaches covered various sectors and took place outside of the banking industry's control.

Losses due to authorized push payment scams, in which customers are tricked into processing a payment to an account controlled by a criminal, rose 50% year over year to £354.3 million.

Check fraud losses increased to £20.6 million in 2018, compared to £9.8 million a year earlier, while £218.2 million of such fraud was prevented.

The Dedicated Card and Payment Crime Unit, a specialist police unit sponsored by the U.K. financial industry, prevented roughly £94.5 million of fraud in 2018, the report noted. The unit deals with organized criminal groups responsible for financial fraud and scams.