FCA Warns Of Sharp Rise In Screen-Sharing Scams

By Joel Poultney (May 5, 2022, 12:56 PM BST) -- Consumers lost more than £25 million ($31 million) in screen-sharing scams between January 2021 and April 2022, the finance regulator said on Thursday, as it warned that there has been an almost 90% rise in reported cases.

The Financial Conduct Authority said the COVID-19 pandemic had allowed screen-sharing scams to flourish as more people worked from home and grew increasingly familiar with the technology. This helped to explain the increase of 86% in cases in one year, the watchdog said, with almost 2,150 being reported since July 2020.

Fraudsters can pose as authority figures, using screen-sharing functions on online platforms and...

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