Millions of pounds lost to scams 'funding terrorism'

Bank customers in the UK lost ?500m in six months to scammers and fraudsters, figures have revealed.
Nearly a third of the money was lost in authorised push payment (APP) scams, which mean the customer has no protection to reclaim their losses.
Customers lost €145m through APP scams in the first half of 2018, while the other €358m was lost in unauthorised fraud and could be repaid.Unauthorised fraud is when a transaction is carried out by the third party without permission being given by the account holder. Victims of this type of fraud have protection.According to UK Finance, €30.9m of the €145m lost in APP fraud has been repaid to victims.Experts are warning that scams are funding terrorism and crime and pose a threat to the UK.The most prevalent type of APP scams are classified as "purchase scams", where customers are duped into paying in advance for goods or services, like a holiday or car, which is not received or does not exist.
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