Britain is ‘losing the war on fraud’ with just one in 700 scams resulting in convictions, the Daily Mail can reveal. Shocking figures show fraud convictions have slumped by 62 per cent since 2011 to their lowest level in 14 years. But reports of investment fraud have spiked by 343 per cent since 2017, while the pandemic has seen billions lost to scams this year. In 2019 there were an estimated 3.7million fraud incidents in England and Wales, according to the ONS. Only one in five of these were reported to the National Fraud Intelligence Bureau, which passes cases on to the police.

Source: Daily Mail July 25, 2021 23:48 UTC