INSIGHT · UK
One in four UK adults have lost money to online financial scams
A quarter of British adults have been defrauded by online financial scams and reduced their digital spending as a result. Retail fraud and social engineering remain dominant vectors despite mature payment infrastructure.
WHY IT MATTERS
High victim rates and behavior change signal that transaction-layer controls (tokenization, 3DS) are insufficient; cognitive and social controls matter. Banks investing only in tech defense will fall short against evolving social engineering.
Source: Finextra · 2026-07-02