Research, Survey and Statistics

The cost of living crisis has seen insurance fraud soar by 61% as people feel the squeeze, new figures suggest.

The City of London Police’s Insurance Fraud Enforcement Department (IFED) said its figures, which cover March 2022 to April this year, suggest a rise in 'opportunistic fraud' rather than professional fraudsters.

Money.co.uk have released their first Business Fraud report, which uncovers that in the past year the average losses for UK organisations to fraudsters was more than £2.1 billion.

https://businessnewswales.com/businesses-in-the-uk-lost-more-than-2-1-billion-in-the-past-year-to-fraud/

UK Finance’s latest Annual Fraud Report exposes £1.2billion stolen via financial fraud in 2022. While efforts to prevent scams have led to a decline, industry leaders stress the need for continued vigilance and collaborative action.

https://thefintechtimes.com/collaborative-action-to-combat-scams-1-2billion-stolen-uk-finance/

The UK has much further to go in its campaign against fraud as the latest figures show that over £1.2bn was stolen in 2022.

https://www.cityam.com/fraudsters-stole-1-2bn-in-2022-as-uk-labelled-fraud-capital-of-the-world/

Reported employee fraud in the West Midlands hit almost £7.8 million in 2022.

New figures suggest the West Midlands is a hotbed of employee fraud.

Business advisors RSM used a Freedom of Interest request to get figures for white collar crime committed by UK workers.

https://www.business-live.co.uk/enterprise/west-midlands-hot-spot-employee-26717476

According to data presented by Atlas VPN, United Kingdom residents lost a shocking £3.9 billion to fraudsters in the last 12 months, which averages out to about £10.7 million per day. During this period, there were 345,228 reported fraud cases.

https://londonlovesbusiness.com/brits-lost-almost-4-billion-to-fraud-in-the-last-12-months/

In what will not be viewed as the most welcome of statistics, the total value of UK fraud appears to have risen to its pre-pandemic level.

https://www.rahmanravelli.co.uk/articles/uk-fraud-levels//

Financial institutions and consumers need to be vigilant as the latest report from NICE Actimize reveals that attempted fraud transactions increased by a whopping 92 per cent in 2022 compared to the previous year.

https://thefintechtimes.com/nice-actimize-report-reveals-soaring-fraud-2022/

Over the past 12 months, the total number of fraud reports made to Action Fraud, Cifas, and UK Finance rose by 6.49%, resulting in an increase in loss of £20 million.

https://internetretailing.net/customer/online-shopping-and-auctions-attract-record-number-of-fraud-reports/

In past four years, those aged 65 and over have lost £1.7 billion to scammers

Elderly fraud has jumped from 36,105 cases in 2019 to 57,430 cases in 2022

Losses reached a new high last year with pensioners losing nearly £460 million