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Cifas, the UK’s fraud prevention service, has release its annual Fraudscape report, which paints an alarming picture of fraud in the UK.
A fraud prevention database has warned of an "inexorable" rise in fraudulent activity across the UK, saying young and elderly victims were being increasingly targeted.
MORE than 400,000 Scots – approaching a tenth of the population – have fallen victim to a financial scam at some point in their lives, according to new research.
Reported fraud cases related to financial investments rose 74 per cent to 6,890 last year, up from 3,950 in 2017.
The Financial Ombudsman Service (FOS) recorded a 40% rise in fraud and scam complaints during the 2018-19 financial year, while complaints about payday lenders soared by a staggering 130%.
Alongside concerns over high-harm offences, the data published by the Office for National Statistics (ONS) reveals a significant rise in the number of frauds committed – the most common offence suffered by victims.
A new incident of financial fraud was reported every 15 seconds in the UK last year, according to data from Experian.
UK businesses transferred £93 million into the accounts of criminals who were posing as legitimate payees last year, latest figures have revealed.
The finance industry stopped £2 in every £3 of attempted unauthorised fraud last year, but fraudsters still managed to steal £1.2bn from victims.
A survey by accountants BDO shows a stark drop in the value of reported frauds in 2018, from a high of GBP 2.1 billion in 2017. Greed, however, remains too good an opportunity to miss for many.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014