More than 45,000 people lost a total of £177.6m to impersonation scams last year, according to finance industry trade body UK Finance.

Consumers facing financial difficulties due to being victims of economic or financial abuse will get more support in future, an industry trade body says.

Fraud losses leapt by 30% in the first half of the year as criminals turned to investment frauds increasingly pushed via social media.

Trade body UK Finance, which represents 250 banks and finance firms, has appointed David Postings as its new chief executive.