Bank transfer scams have soared during the Covid-19 pandemic in many countries around the world.
In the UK, the number of authorised push payment (APP) fraud cases — when people are tricked into transferring money from their account to one belonging to a scammer — rose to more than 100,000 cases in the first half of 2021, an increase of 60% over the same period in 2020, with the total value of losses up 71% to £355.3m, according to a recent report by trade association UK Finance.
