Fraud is the most common crime in Britain - with romance and investment scammers raking in more than everSCAM SCOURGE True scale of payment fraud in UK is EIGHT TIMES higher than previously thought, shock report revealsTHE true scale of payment fraud in the UK is eight times higher than previously thought, a shocking report claims. Financial regulators previously believed fraud through Authorised Push Payments cost Brits £380m a year but a new study puts the losses at £3billion. Experts at the National Fraud Helpline also found customers are now making more payments to scammers during each fraud swindle. During romance scams, where hoaxers convince singles to send money to an internet partner, the number of payments has soared from 5.5 in 2020 to 10.8 in 2024. In investment scams, where supposed financial experts convince Brits to part with their life savings, the average number of payments went from 2.4 to 3.6 in the same period.

Source: The Times April 02, 2025 14:07 UTC