Foreign News: Online fraud losses leap, UK bank branches endangered species

Banking Day staff Foreign news
  • Online payment fraud losses from eCommerce, airline ticketing, money transfer and banking services will reach US$48 billion by 2023, up from the US$22 billion in losses projected for 2018, a study from Juniper Research has found.
  • New research by UK consumer organisation Which has found the UK lost nearly two-thirds of its bank branches over the past 30 years and now a fifth of household are more than 3 km from their nearest branch. Finextra reports it also found that nearly half of UK adults are unaware that many banking services are now being offered by post offices.