Advisers urged to have 'robust' processes to protect clients from fraud

Last year saw a sharp 34% increase in losses from investment scams in the first rise since 2021, according to UK Finance's annual fraud report. Investment scams accounted for nearly a third of all ‘authorised push payment' fraud last year, with those related to cryptocurrencies increasing significantly. The research also found that 2024's losses of more than £144m came despite case numbers falling by a quarter year-on-year, suggesting fraudsters are turning their focus to a smaller number of wealthier individuals. Continuum IFA Ian O'Dowd has previously acted to protect a client from ...