Fraud losses reached a staggering £629m in the first half of 2025, fuelled by new investment scams and an unprecedented level of card fraud, as criminals utilise AI to orchestrate more complex scams.

In the initial six months of 2025, over 2 million confirmed cases of fraud were reported, marking a 17 per cent increase, according to industry group UK Finance. Criminals managed to pilfer £629.3m, a three per cent rise from previous figures, as reported by City AM .

The total losses saw an uptick, primarily due to larger sums being swindled through authorised payment fraud (APP), which witnessed a 12 per cent surge to £257.5m.

Investment scams were identified as the main culprit, skyrocketing by a whopping 55 per cent to £97.7m. These now represent 38 per cent of total APP losses and ha

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