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New Marqeta survey shows that 68% of people surveyed in the UK are more concerned about fraud since the start of the pandemic, with 79% believing banks should more accurately predict fraudulent transactions
Marqeta, the global modern card issuing platform, today released the annual findings of a survey of more than 2000 UK and US consumers, looking at their attitudes and experiences regarding financial fraud. The survey revealed that COVID-19 has been hugely impactful, with 68% of UK respondents reporting being more concerned about fraud since the start of the pandemic. Almost 1-in-5 (19%) of UK adults surveyed by Marqeta reported becoming first-time victims of fraud in the last 12 months, a significant increase from last year's findings from Marqeta's 2020 Fraud Report. This figure rises to 31% among 18-34-year-olds. Under this heightened concern, UK consumers feel banks need to do more to protect their customers, with four-in-five (79%) UK respondents saying they believe their bank should be able to more accurately predict when a transaction is fraudulent, and 63% admitting they are concerned about their bank's ability to spot fraud.