Scams Awareness Month: Facts and figures

Published: Wednesday 20th July 2016 by Tom Drinkall

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Scams Awareness Month is taking place throughout July with organisers Citizens Advice and Trading Standards keen to spread the word to ensure people do not fall victim to online swindles and hoax calls.

KCOM wants to help customers protect themselves against fraudsters and, in order to do so, over the next week the company is raising awareness of the most common scams and how to avoid them.

Let’s get started by taking a look at some of the facts and figures associated with this type of criminal activity.

Scams: Facts and figures

  • Scam victims lose an average of £2,500 to fraudsters.
  • Victims of investment scams, meanwhile, are swindled out of £20,000 on average.
  • There were more than five million incidents of fraud in England and Wales during the year ending June 2015.
  • Of these, some 2.5million were online crimes, including computer hacking.
  • The cost of cyber crime in UK was estimated at £193billion a year.
  • The most common cyber crime were those where a victim’s device was infected by a virus.
  • Other popular crimes committed under the Computer Misuse Act included email and social media account hacking.
  • Over half of all frauds (online and offline) involved some sort of financial loss.
  • Financial fraud, across payments cards, remote banking and cheques, totalled £755m in 2015 – a 26% rise compared to 2014.
  • Payment card fraud accounted for 75% of this £755m total, with remote banking and cheques accounting for 22% and 3% respectively.
  • Prevented fraud totalled £1.76bn in 2015 – the equivalent of £7 in every £10 of attempted fraud being stopped.


Sources:

Citizens Advice: https://www.citizensadvice.org.uk/about-us/campaigns/current_campaigns/scams-awareness-month/scams-awareness-month/

The Office for National Statistics 2015 Crime Survey: http://webarchive.nationalarchives.gov.uk/20160105160709/http://www.ons-
.gov.uk/ons/rel/crime-stats/crime-statistics/year-ending-june-2015/sty-fraud.html

The University of Portsmouth’s Annual Fraud Indicator 2016:
http://www.port.ac.uk/media/contacts-and-departments/icjs/ccfs/Annual-Fraud-Indicator-2016.pdf

Financial Fraud Action UK:
https://fraudfacts16.financialfraudaction.org.uk/

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Published: Wednesday 20th July 2016 by Tom Drinkall

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