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Lloyds tells Big Tech to do more to tackle surge in crypto scams

By Lars Mucklejohn Lloyds Bank has issued an “urgent warning” to customers over a surge in cryptocurrency scams and called on Big Tech companies like Meta to take more responsibility for preventing fraud on social media. Data published by Lloyds on Friday showed a 23 per cent rise in crypto scams reported by its group’s customers in the first nine months of 2023 compared to the same period last year. The victims lost an average of £10,741 each, up from £7,010 last year and more than any other type of consumer fraud. Fraud makes up 41 per cent of crime in England and Wales and cost Britons £580…