UK Government: Social and Psychological Implications of Fraud – 2024

UK Government: Social and Psychological Implications of Fraud

Psychology of Scams

Authors:
• UK Parliament – Government of the United Kingdom
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

Fraud poses a significant threat to the UK, with 4 in 10 offences targeting individuals. The government’s 2023 Fraud Strategy aims to combat this, emphasizing victim support and prevention.

While stereotypes of elderly victims persist, fraud risks vary due to psychological and social factors. Beyond financial loss, fraud inflicts emotional and psychological harm.

Victims often report fraud to banks rather than authorities. Effective prevention strategies involve education and enhanced victim care. This POSTnote underscores the multifaceted nature of fraud and the need for comprehensive, collaborative approaches to mitigate its impact on individuals in England and Wales.

UK Payment Systems Regulator Final Scam Reimbursement

Implementing Widespread Scam/Fraud Victim Reimbursement in the United Kingdom = A Model for the World!

Author:
• Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch

Article Abstract

“UK Payment Systems Regulator Sets Precedent with Final Scam Reimbursement Guidelines”

The UK Payment Systems Regulator (PSR) released comprehensive scam reimbursement requirements, effective October 2024, offering a global model.