- Members of UK Finance and GSMA, including major UK mobile operators like Vodafone, EE, Virgin Media O2, and Three, are rolling out Scam Signal—a new API-driven tool designed to reduce authorized push payment (APP) fraud.
- By leveraging real-time mobile data, Scam Signal identifies potential fraud patterns to help banks prevent scams.
- The initiative comes amid rising APP fraud losses, which totaled £213.7 million in early 2024, with 35% linked to telecom-originated scams.
- This effort aligns with new UK consumer protections mandating scam reimbursements for victims.
UK Finance and GSMA Partner to Combat Fraud with New Scam Signal Initiative
