Surge in UK Fraud a National Security Threat, Warn Banks

The City of London financial district can be seen as people walk along the south side of the River Thames, amid the coronavirus disease (COVID-19) outbreak in London, Britain on March 19, 2021. Henry Nicholls/Reuters

LONDON—A surge in fraud attacks on consumers since the pandemic has become a ‘national security threat’ for Britain requiring government-coordinated action across industries, banking industry lobby group UK Finance has warned.

Financial fraud has rocketed during the pandemic as more consumers shop online and try digital banking and investing.