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Abstract

This research report aims to understand the public perception on Authorised Push Payment (APP) fraud and the public perception on an insurance programme through banking societies to compensate the losses of APP fraud. APP fraud is an increasing type of economic crime, requiring the authorisation of monetary transfer by the victim to the criminal. This means there are substantial difficulties in the compensation of the financial losses from APP fraud due to the victim authorising the payment. Current literature and compensation scheme proposals present limitations for victims of APP fraud in regaining financial losses. This research used quantitative and primary research methods, in the form of a survey, to recognise the current understanding of APP fraud by the public and their opinion on an insurance programme. The research found 70% of participants were not aware of what APP fraud is and 82% were unaware of current banking societies policies in place regarding APP fraud. This demonstrates the requirement for education surrounding this form of economic crime. Results also demonstrated 64% of participants would be likely to opt into an insurance programme to reduce losses seen by APP fraud and limit the impact of the crime, meaning current limitations in fraud compensation proposals could be reduced by implementing the recommendation of an insurance programme.

Course: Criminology and Forensic Studies - BSc (Hons) - C2039F

Date Deposited: 2024-11-21

URI/permalink: https://library.port.ac.uk/dissert/dis14545.html