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And the dirtiest bank in the UK is.....

Updated: Jul 17, 2023

£583 million* is lost to Authorised Push Payment scams each year. The sad fact is that most of this money went to UK Bank accounts.


But who owns these accounts? What happens to them? Where does the money go? Why can't we get it back? And, MOST IMPORTANTLY, what are banks doing about it?


With the Payment Systems Regulator due to publish** the rates of APP scams payments being handled by receiving payment firms in October, the public is about to find out what banking Fraud Teams in the UK have known for years - that certain banks handle a disproportionately large amount of stolen cash.


And the Banks that find themselves at the top of this particular league table will inevitably be asked, why is it that Money Launderers love you so much?


It doesn't matter whether you're a big bank, a small bank, or even a fintech bank.....when you're trusted with a Banking License, you are expected run your bank with "due skill, care and diligence".....but if hard data shows that you are the money launderers bank of choice, what then?




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