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A £4.1bn fraud risk facing the UK rental sector
New analysis from Goodlord suggests fraudulent tenancy applications may be costing the UK's private rental sector up to £4.1 billion each year.
The research found:
✅ 41 suspected fraudulent applications per 1,000 tenancy references
✅ A nearly 40% increase in suspected fraud during 2025 compared with the previous year
✅ An estimated average direct loss of £9,601 per fraudulent tenancy
✅ London, the West Midlands and the North West identified as fraud hotspots
Fraudsters are increasingly using fake identities, fabricated employers and false references to secure rental properties, with AI making deception easier than ever.
A reminder that effective fraud prevention requires layered controls, independent verification, and regular reviews of detection methods as criminal tactics evolve.
Fraud is adapting. Our controls must too.
Should the UK pay whistleblowers to expose fraud?
The recently published Fisher Review has reignited the debate.
With fraud accounting for 44% of surveyed crime in England and Wales, yet only 1% of reported cases resulting in a criminal justice outcome, the review recommends that the SFO should be able to financially reward whistleblowers who provide valuable intelligence.
Supporters argue this could help tackle the UK's fraud problem, stem the flow of intelligence to overseas regulators, and accelerate complex investigations.
Critics point to the risks: undermining internal reporting channels, encouraging speculative reports, and creating challenges around witness credibility.
For businesses, the message is clear: ensure your Speak Up channels are trusted, accessible and effective. Employees should feel confident raising concerns internally before looking elsewhere.
Whether or not the Government adopts the recommendation, the direction of travel is clear: whistleblowers are becoming an increasingly important part of the fight against economic crime.
New research highlighted by IFA Magazine finds plastic card fraud now accounts for over a third (36.29%) of all identity fraud cases in the UK, with cases increasing by almost 50% since 2017. Bank account fraud remains the second most common form of identity theft, while communications and online retail fraud continue to rise significantly.
What stands out is the fraudster does not always need access to your bank account. A combination of personal information such as your name, address, date of birth, phone number, or insurance details can be enough to impersonate you and facilitate wider fraud.
For organisations, this reinforces the importance of:
✅ Strong identity verification controls
✅ Employee awareness training on phishing and social engineering
✅ Regular monitoring of unusual account activity
✅ Robust data protection practices to limit exposure of personal information
For individuals, a simple but effective control remains regularly checking bank statements, credit reports and account notifications. As many fraud professionals know, early detection can significantly reduce the impact of fraud.
As fraud continues to evolve, prevention is increasingly about vigilance, good data hygiene and a healthy degree of scepticism when asked to share personal information.
Pandemic Fraud, Years Later: Accountability Still Matters
A recent National Crime Agency (NCA) investigation has led to the conviction of individuals who exploited PPE shortages during the COVID-19 pandemic, using funds intended for protective equipment to finance luxury purchases and home improvements.
The case is a stark reminder that:
Fraudsters thrive where urgency overrides due diligence.
Strong procurement, compliance and financial controls matter most during times of crisis.
Digital evidence trails often become the key to successful investigations.
Fraud may be committed in moments, but accountability can take years—and still catch up with those responsible.
AI is supercharging fraud – and lowering the barrier to entry for criminals
Fraud losses surge as scammers use AI to manipulate victims
UK fraud losses are rising sharply, with authorised push payment (APP) scams up nearly 20% last year
It’s not just volume — it’s how AI is changing the game:
AI is making scams more sophisticated and scalable
Criminals can now impersonate friends, family, or celebrities convincingly
The “barrier to entry” for fraud is falling, enabling more actors to participate
The result:
Victims are no longer just being “tricked” — they are being systematically manipulated through highly personalised, believable interactions
For organisations, this reinforces a critical shift:
Fraud prevention is no longer just about systems and controls
It’s about human behaviour, awareness, and resilience
Three implications worth calling out:
1️⃣ Social engineering is becoming the primary attack vector
2️⃣ Traditional red flags are disappearing as scams become more realistic
3️⃣ Collaboration across sectors (banks, tech platforms, regulators) is now essential
This isn’t a future risk — it’s happening now.
The question for all of us in compliance, fraud, and risk:
Are our controls evolving at the same pace as the threat?
£9m Investment Fraud – Same Old Story, New Victims
A company director has been jailed for over 8 years after running a Ponzi-style investment scam, falsely promising high returns through Forex trading.
The reality:
Unauthorised investment scheme
Fake profits and account balances
Money recycled between investors
Funds diverted for personal lifestyle
The lesson?
Fraud doesn’t change — just the packaging.
“High return, low risk” =
FCA authorisation checks are essential
Awareness and challenge remain our strongest controls
Midlands fraud risk – firmly on the radar
New BDO data highlights the Midlands as a top five UK fraud hotspot, with losses approaching £110m in 2025 and a fraud landscape becoming more complex and technologically enabled.
This underlines the importance of regional collaboration and capability building.
Great to be part of the Midlands Fraud Forum (MFF) community – bringing together practitioners across sectors to share insight and strengthen response.
Looking forward to the MFF Annual Conference on 25 June in Birmingham – always a valuable opportunity to connect, learn and challenge our approach to fraud risk.
The Association of Certified Fraud Examiners (ACFE) has recently published Occupational Fraud 2026: A Report to the Nations, the 14th edition of the largest and most comprehensive study on the costs and effects of occupational fraud.
Analysing data from 2,402 real fraud cases across 143 countries and territories, the report provides a global view of how fraud is committed, detected and prevented within organisations in both the public and private sectors.
Timely research from Dr Rasha Kassem, PhD, CFE, SFHEA, CMBE and Aston University, highlighting the growing fraud risks facing holidaymakers as we head into the summer travel season - a useful reminder of the need for vigilance, from booking platforms to payment methods.
https://www.aston.ac.uk/latest-news/new-research-warns-rising-fraud-risks-holidaymakers-summer-season-approaches
Invoice fraud remains one of the highest‑harm fraud risks facing the construction sector
The National Crime Agency (NCA) and the National Federation of Builders (NFB) have launched a new joint campaign to help protect construction businesses from invoice fraud, a crime costing construction firms millions of pounds each year as they particularly vulnerable due to:
> Complex supply chains
> High‑value, time‑pressured payments
> Heavy reliance on email for payment instructions
Recent figures show that in September 2025 alone, invoice fraud resulted in losses of £3.9m across just 83 cases, with construction and manufacturing among the most affected sectors.
The campaign reinforces three simple but critical controls:
✅ CHECK for unexpected changes to invoice or bank details
✅ VERIFY directly with suppliers using trusted contact details
✅ NEVER release funds until you are satisfied the request is genuine
A timely reminder that strong payment controls, staff awareness and verification discipline remain some of the most effective fraud prevention measures we have.
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