Future Finance - Collaborative Challenge: Tackling Fraud at the Source

Three workshops as part of a Future Finance Collaborative Challenge Programme (CCP) seeking answers to fraud in the UK payments process.

📅 Dates: June 4, 18, and 25 Time: 09:30 – 12:00 - Location: Bristol
Participants are encouraged to attend all three sessions to maximise impact and continuity. If you still want to be part of this but can't attend all three sessions, please contact us first.

Overview

Fraud is the UK’s most common crime, costing the economy £14 billion each year. But the real impact runs deeper than financial loss alone with 63% changing their behaviour afterwards — becoming more cautious, withdrawing from financial activity, and losing confidence in digital systems.

This isn’t just a crime problem. It’s a growth problem. When people disengage from financial services, the ripple effects are felt across innovation, inclusion, and economic progress.

While headlines suggest improvement, with APP fraud losses falling, the reality is more complex. The average loss per victim is rising, and fraudsters are evolving fast. Today’s scams are more targeted, higher value, and harder to detect.

And crucially, most interventions still happen too late, at the point of payment, when harm is already done.

The Challenge
The evidence is clear: no single sector can solve this alone.

• 70% of APP fraud cases originate online
• 16% start via telecoms — yet account for 36% of total losses
• Financial institutions are often the last line of defence

The UK Government’s Fraud Strategy (2026–2029) and industry insights highlight a shared responsibility across financial services, telecoms, technology, and law enforcement.

About the Collaborative Challenge Programme
This June, Future Finance in partnership with FinTech West will convene a cross-sector cohort to tackle this challenge head-on.

Over three interactive workshops, we’ll bring together diverse expertise to:

• Explore the fraud journey end-to-end
• Identify where intervention can happen earlier
• Develop practical, collaborative solutions
• Build the partnerships needed to take action forward

Who Should Attend
We are actively bringing together participants from across the ecosystem, including:

• Financial services
• Telecoms and digital platforms
• Cybersecurity and fraud prevention
• Consumer protection and advocacy
• Law enforcement and policy
• Founders and innovators with relevant technologies or insights

If you have a role to play in preventing fraud — or a perspective that could unlock new solutions — we want you in the room.