Stay One Step Ahead: Protect Yourself from Fraud in 2025

Fraud has become the most prevalent crime in the UK, affecting millions and causing significant financial and emotional distress. Understanding the current landscape and learning how to protect yourself is crucial.

The Current Landscape of Fraud in the UK

Recent data reveals that fraud constitutes approximately 40% of all crimes in England and Wales, with over 3.2 million cases reported annually. In the first half of 2024 alone, fraudsters stole over £570 million through various scams, impacting countless individuals and businesses.

UK Finance

Common Types of Fraud

Authorised Push Payment (APP) Fraud: Scammers trick individuals into authorising payments to accounts controlled by them. In the first half of 2024, APP fraud accounted for £214 million in losses. Financial Times
Unauthorised Payment Fraud: This includes unauthorised transactions made without the account holder’s consent, resulting in £358 million in losses during the same period. Financial Times

Protecting Yourself Against Fraud

Staying vigilant and informed is your best defence against fraud. Here are some practical steps to safeguard yourself:

Be Skeptical of Unsolicited Offers: If an offer seems too good to be true, it probably is. Avoid agreeing to deals immediately; take time to verify the legitimacy of the offer. Metropolitan Police
Safeguard Personal Information: Never share personal or financial details with unknown individuals or organisations without verifying their credentials. Action Fraud
Use Strong, Unique Passwords: Employ complex passwords and change them regularly to enhance security. Stop Think Fraud
Enable Two-Step Verification: Activate two-step verification on your accounts for an added layer of protection. Stop Think Fraud
Stay Informed About Common Scams: Educate yourself on prevalent scams and warning signs to better identify fraudulent activities. Take Five Stop Fraud

Reporting Fraud

If you suspect you’ve been targeted by fraud:

Contact Your Bank Immediately: They can help secure your accounts and guide you on the next steps.
Report to Action Fraud: Action Fraud is the UK’s national reporting centre for fraud and cybercrime. You can report incidents online or by calling 0300 123 2040. Action Fraud

Support and Resources

Remember, you’re not alone. Numerous organisations offer support and guidance to fraud victims. For instance, the “Stop! Think Fraud” campaign provides valuable information on protecting yourself from scams.

Stop Think Fraud

By staying informed and cautious, you can protect yourself and your loved ones from fraud. Always take a moment to stop and think before sharing personal information or making payments. Your vigilance is a powerful tool against fraudsters.

If you have any questions or need further assistance, feel free to ask.

Here’s a summary of the key findings from the report “More Than Just a Number: Improving the Police Response to Victims of Fraud,” highlighting its statistics and insights:

The Scale of the Problem

Fraud prevalence: Estimated at 3.24 million offences in England and Wales for the year ending March 2018, making up 31% of all crimes.
Cyber connections: 54% of frauds had links to cybercrime, with 43% involving online victim contact.
Cross-border crime: 78% of cases involved suspects and victims in different police force areas.
Emotional toll: 45% of victims reported a financial loss impacting their emotional well-being, and 37% experienced significant psychological effects.

Enforcement Challenges

Limited outcomes: Only 8,313 cases (3%) of the 277,561 frauds reported in 2017-18 led to charges or resolutions.
Investigation delays: Fraud cases take an average of 514 days from reporting to charge, compared to 50 days for theft.
Police resources: Only 1 in 134 police employees focused on economic crime; 1 in 241 on cybercrime.

Victim Experience

Low satisfaction: Many victims lack a clear point of contact or understanding of outcomes after reporting fraud.
Awareness gaps: Fewer than 5% of the public knew to report fraud to Action Fraud; 48% still approached local police.
Inconsistent services: While some forces offer tailored support to vulnerable victims, 28% provide no support at all.
Underutilised victim support: 89% of victims referred to support services did not engage with them.

Structural and Strategic Gaps

National coordination: There is no current national strategy for fraud policing, despite fraud being the most prevalent crime.
Local misalignment: Local forces lack consistent guidance, leading to gaps in reporting, victim care, and investigation.

Recommendations for Improvement

Better case allocation: Streamline decision-making and improve victim communication through the National Fraud Intelligence Bureau (NFIB).
Clearer support standards: Define national minimum standards for victim support and investigation outcomes.
Expanded victim care: Fund and scale the Economic Crime Victim Care Unit to cover all police forces.
Targeted prevention: Focus on educating the public and improving coordination between agencies to reduce vulnerabilities.

Actionable Insights

The report underscores the need for prioritising fraud through better strategies, funding, and education. The recommendations aim to:

Streamline fraud reporting and investigation.
Empower victims with clear communication and support.
Build a unified, responsive national framework for tackling fraud.

Since the 2018 publication of “More Than Just a Number: Improving the Police Response to Victims of Fraud,” there have been significant strides in addressing fraud and enhancing support for victims. Here’s an overview of the key developments up to 2024:

1. Enhanced Victim Support Services

Law Enforcement-Based Victim Services (LEV) Program: The Office for Victims of Crime (OVC) expanded the LEV program, enabling over 70 law enforcement agencies to develop or enhance victim service programs. This initiative ensures that victims receive timely and compassionate support directly from law enforcement agencies. Office for Victims of Crime
Training and Technical Assistance: The International Association of Chiefs of Police (IACP), funded by OVC, provided specialized training and technical assistance to law enforcement agencies. This effort aimed to improve the identification of and response to victims of fraud and other crimes, fostering a more victim-centered approach. Office for Victims of Crime

2. Implementation of Victim-Centered Strategies

Enhancing Law Enforcement Response to Victims (ELERV) Strategy: The second edition of the ELERV Strategy was released in 2020, incorporating lessons learned from agencies that implemented the strategy between 2014 and 2019. This strategy emphasizes leadership, partnership, training, and performance monitoring to address victims’ needs effectively. Office of Justice Programs
Resource Toolkits: The IACP developed comprehensive toolkits to assist law enforcement agencies in implementing victim-centered strategies, ensuring that officers are equipped with the necessary resources to support victims effectively. IACP

3. Legislative and Policy Developments

Crime Victims’ Rights Legislation: Significant legislative advancements have been made to protect victims’ rights, including the VOCA Fix to Sustain the Crime Victims Fund Act of 2021 and the Bipartisan Safer Communities Act of 2022. These laws aim to enhance support and resources available to crime victims. Office for Victims of Crime

4. International Collaboration and Initiatives

Council on Policing Reforms and Race: In 2023, the Council released over 50 research-informed recommendations to address pressing issues in policing and public safety, including the response to victims of fraud. These recommendations serve as a roadmap for policymakers and law enforcement agencies to enhance public safety and trust. Policing Institute

5. Technological Advancements in Fraud Prevention

Anti-Scam Initiatives: Authorities have implemented various measures to combat scams, such as the establishment of the Anti-Scam Command and the launch of the ScamShield app. These initiatives aim to prevent fraud and assist victims in recovering losses. Wikipedia

These developments reflect a concerted effort to implement the recommendations from the 2018 report, focusing on enhancing victim support, adopting victim-centered strategies, enacting supportive legislation, fostering international collaboration, and leveraging technology to combat fraud. While progress has been made, ongoing efforts are essential to ensure that victims of fraud receive the support and justice they deserve.

Financial crime, particularly fraud, remains a significant concern in the UK, impacting individuals and businesses alike. Let’s explore the latest figures on fraud prevalence, investigations, and outcomes as of 2024.

Fraud Prevalence

Fraud continues to be the most commonly experienced crime in England and Wales, accounting for approximately 37% of all reported crimes.

National Crime Agency In the first half of 2024 alone, over £570 million was stolen through payment fraud, highlighting the substantial financial impact on victims.

UK Finance

Investigations and Outcomes

Addressing fraud effectively requires robust investigative efforts and successful legal outcomes. In the year ending March 2024, there was a slight increase in the proportion of victim-based offences resulting in a charge or summons, rising to 5.5% from 4.8% the previous year.

GOV.UK This marks the highest proportion since the year ending March 2015. However, the complexity and often cross-border nature of fraud cases present ongoing challenges in achieving higher prosecution rates.

Protecting Yourself Against Fraud

Given the prevalence of fraud, it’s crucial to stay informed and vigilant. Here are some steps you can take to protect yourself:

Stay Informed: Regularly update yourself on common fraud tactics and remain cautious of unsolicited communications requesting personal information.
Verify Sources: Always verify the authenticity of contacts, especially when dealing with financial transactions or sharing sensitive information.
Report Suspicious Activity: If you suspect you’ve been targeted by fraud, report it promptly to Action Fraud, the UK’s national reporting centre for fraud and cybercrime.

By staying alert and proactive, you can significantly reduce the risk of falling victim to fraud. Remember, support is available, and taking action not only protects you but also helps in the broader fight against financial crime.