UK Finance : 2020 Half year fraud report

27 Sep 2020 7:36 PM | David Clark (Administrator)

Whether it’s elaborate scams and attempts by criminals to con innocent victims into handing over their money or providing access to data which can then be used to gain illicit funds, stories of those impacted by fraud are becoming increasingly common. In particular, Covid-19 has seen criminal gangs focus on taking advantage of people’s fears and uncertainties around the virus, sometimes to devastating effect. This is demonstrated by a sharp rise in the number of impersonation scams, which nearly doubled in the first six months of the year, with almost 15,000 cases reported. Such scams occur when the victim is convinced to make a payment to a criminal claiming to be from a trusted organisation such as the police, a bank or a government department. In some notable cases recently, fraudsters have tricked victims by pretending to offer government grants to help with Covid-19.

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