LONDON — It isn’t just Americans being victimized: losses from a type of fraud in which victims are tricked into sending money directly to criminals rose sharply in the United Kingdom last year, prompting renewed calls for technology companies to take greater responsibility for scams that often originate on their platforms.
Reuters reported that losses from authorized push payment (APP) fraud increased 19% in 2025 to £576.4 million ($772.8 million), marking the steepest rise since a surge in technology-enabled scams during the COVID-19 pandemic.
APP fraud includes investment scams, purchase scams and other schemes in which criminals persuade victims to transfer money voluntarily.
The figures were released by UK Finance, the banking industry’s trade group, as regulators review reimbursement rules introduced in October 2024 that require banks and payment firms to compensate victims of APP fraud for losses of up to £85,000. Reuters reported that the United Kingdom remains the only country with a mandatory reimbursement regime for APP fraud.
According to UK Finance’s annual fraud report, banks returned £354.3 million to victims last year. The APP fraud loss figures include cases that fall outside the reimbursement requirements.
£354.3 Million Returned
Ruth Ray, UK Finance’s director of economic crime, told Reuters that fraudsters are becoming increasingly sophisticated in their use of social engineering techniques, with artificial intelligence helping criminals target a broader range of victims.
“Given most APP fraud still starts via online tech platforms or via telecoms, we urgently need stronger, enforceable responsibilities to be placed on these sectors,” Ray told Reuters.
The findings have intensified pressure on technology companies, particularly social media platforms, to do more to combat online scams.
Janine Hirt, CEO of fintech trade group Innovate Finance, told Reuters that technology firms should share the cost of reimbursing fraud victims and adopt stronger safeguards, including seller verification measures.
What Meta Documents Reveal
Reuters noted that it reported last year that internal documents from Meta projected that approximately 10% of the company’s 2024 revenue, or about $16 billion, would come from advertisements linked to scams and prohibited goods. Reuters also reported that Meta has repeatedly failed to block illegal advertisements for high-risk investment products in Britain despite pledges to do so.
Meta did not immediately respond to Reuters’ request for comment.
UK Finance said losses tied to investment scams reached a record £221.5 million in 2025, driven largely by fraudulent social media posts promising high returns. The group also reported record losses from purchase scams and romance scams.
A spokesperson for the U.K. Payment Systems Regulator, which implemented the reimbursement rules, told Reuters that technology companies, banks and telecommunications providers all have a role to play in protecting consumers.
“We have consistently called for tech firms to do more to protect their users, while banks and telecoms providers must also play their part,” the spokesperson said.
