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Financial Fraud: Why it Matters

Hundreds of thousands of people become victims of fraud every year. The threat posed by deception scams, alongside the growth in sophisticated online attacks, is on the increase. The impact of fraud attacks on victims can be wide ranging, with psychological turmoil and emotional stress created in addition to any financial impact.

  • It is estimated one in every ten people has fallen victim to financial fraud.
  • There were 1.5 million incidents of financial fraud in the UK in 2015.
  • Estimated losses to the UK economy from fraud, including financial fraud, exceed 50 billion per year.
  • The Financial Action Task Force found phone scams in the UK fund terrorism.

Financial Fraud Action UK is calling on all Police and Crime Commissioner Candidates across England and Wales to commit to four pledges:

  1. Make tackling financial fraud and cyber crime a priority for their Police and Crime Plan.
  2. Identify additional police resources to be focused on tackling fraud and cyber crime.
  3. Support national fraud awareness-raising activities and campaigns.
  4. Increase the number of fraud cases investigated and sent to the CPS for prosecution.

Will you sign up to these pledges to protect local people from fraud? Please let us know on [email protected]

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