The ways fraudsters attempt to take our hard-earned cash have become increasingly cynical – including tricks like pretending to be a family member with a new phone number.
The ‘Hi Mum/Dad I need cash for an emergency’ message from an unknown number cruelly plays on parental instincts and only adds to the hurt and distress involved in being a victim of fraud.
The Annual Fraud Report 2026 from UK Finance shows criminals stole nearly £1.3 billion in 2025. A growing component of this sobering total is made up of authorised push payment (APP) cases, which were up 19% to £576.4 million.
What is APP fraud?
Instances of APP fraud see scammers manipulate people into transferring money for goods, services or opportunities (which never materialise) from your bank account to an account they control. Because the payment was approved by the victim, it’s harder for this money to be recovered. Investment fraud represented the highest proportion of this category of scam with losses running to £221.5 million. This was a 40% increase year-on-year in the amount lost and there was a 26% increase in case numbers to 14,893.
The data shows APP fraud losses continue to be driven by the abuse of online platforms and telecommunications. According to UK Finance, 66% of APP cases originated online, accounting for 32% of losses. Some 17% of cases began over the phone, typically involving higher value scams and accounting for 28% of losses.
It is important not to panic if you’ve been defrauded or to be embarrassed and not ask for help or support. Scams are becoming increasingly sophisticated and anyone could potentially fall victim to one, no matter how savvy they think they are.
What can you do?
Depending on the type of scam and how any money has been handed over, reimbursement can be available. In 2025, UK Finance says banks reimbursed £354.3 million to victims of APP fraud, equivalent to 61% of losses.
That said, if you can avoid falling prey to these schemes entirely, it will obviously save you a lot of stress and worry. The UK Finance ‘Take Five to Stop Fraud’ campaign aims to help people avoid falling prey to the scammers. Their advice is to:
- Stop: Take a moment to stop and think before parting with your money or information. It could keep you safe.
- Challenge: Ask yourself, could it be fake? It’s ok to reject, refuse or ignore any requests. Only criminals will try to rush or panic you.
- Protect: Contact your bank immediately if you think you’ve been scammed and tell the Police at reportfraud.police.uk or on 0300 123 2040.
Visit our security hub for more information on common scams, and advice on how to protect yourself and your money.
Tom Sieber: Content Editor
Tom Sieber is AJ Bell's Content Editor. He was previously the Editor of Shares Magazine. He has been with the business since 2012.
Tom is a regular contributor to the AJ Bell Money & Markets...
