UK Fraud Losses Hit £1.28bn as APP Scams Surge Again in 2025

Criminals stole £1.28 billion through fraud in the UK last year, a 4% rise that reverses the brief slowdown seen in 2024 and underscores the industrial scale of the problem, according to new figures from Innovate Finance.

The sharpest increase came from authorised push payment (APP) fraud, which jumped 19% to £576.4 million across more than 248,000 cases. Personal victims accounted for the vast majority of losses, while businesses lost £75.6 million. Unauthorised fraud losses fell slightly to £703.4 million despite an 11% rise in case numbers, driven largely by remote purchase scams and an 8% increase in contactless fraud. Remote banking fraud, however, dropped 27% to £104.4 million.

APP fraud remained the most damaging category, with investment scams alone soaring 40% to £221.5 million. Romance fraud also climbed, rising 23% to £39.2 million. Impersonation scams—where criminals pose as banks, police or trusted organisations—continued to decline, with both losses and case volumes down double digits.

Two‑thirds of APP cases originated online, while telecom‑based scams accounted for fewer incidents but disproportionately higher losses. Banks reimbursed £354.3 million to victims, covering 61% of total APP losses. Innovate Finance and UK Finance both renewed calls for telecoms and online platforms—particularly social media companies—to take on enforceable responsibilities and contribute financially to tackling the fraud epidemic.

Ruth Ray, managing director for economic crime at UK Finance, said the financial sector cannot shoulder the burden alone. “Almost £1.3 billion was stolen again last year, and it’s clear we’re not addressing the root causes. Given that most APP fraud starts on tech or telecom platforms, we urgently need stronger obligations on those sectors to reduce harm and stop criminals and tech companies profiting from these crimes,” she said.