<ul><li>Reports show a 63% increase in the use of savings accounts to receive fraudulent or disputed funds, compared to a 12% increase in current accounts.</li><li>Fraudsters are diversifying their activity across a wider range of financial products, including savings accounts, to evade detection.</li><li>ID fraud is the main growing fraud typology in the UK, with an increase in false identity reports and the use of synthetic IDs.</li><li>The cost-of-living crisis is identified as a significant contributing factor to fraud rates in the UK.</li></ul>

Money Launderers Turn to Savings Accounts to Receive Fraudulent Funds, Finds Synectics

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