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Ongoing increases in authorised fraud
Apologies if this has already been shared but I saw that the annual UK Finance fraud report had been published and the continuing increases in authorised fraud are notable:
They've subdivided the analysis to distinguish between what they're categorising as malicious redirection and malicious payee, which exhibit significantly different trends, with the latter up by no less than 35% year on year:
I think the axes of the chart may be wrong, as the individual totals above clearly sum to more than £120m (the report itself states that authorised fraud increased by 19% from £484m to £576.4m), and the volume of cases also appears to be miscalibrated, but the trends are the same.
https://www.ukfinance.org.uk/system/files/2026-06/UK%20Finance%20Fraud%20Report%202026.pdf
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Scary stuff. And I think it will only get worse as AI gets better…
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