Online shopping and auctions attract record number of fraud reports

The number of fraud reports made to Action Fraud, Cifas and UK Finance climbed by 6.49% in the past 12 months, resulting in an increase in losses of £20 million.

This is according to research by personal loan provider Fluro, which found that online shopping and auctions garnered 72,147 reports, with an average loss per person of almost £100.

Online shopping and auction fraud reports climbed by 55.68% year-on-year.

Over the past 12 months 52,054 fraud cases were reported to London Metropolitan police force, costing consumers in Greater London (excluding City of London) a total of £450.5 million.

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Surrey follows next as the second largest fraud hotspot in the UK with 6,456 reported cases amounting to a total loss of around £40.5 million.

Thames Valley ranks third with reports over a 12 month period totalling 12,246 for a total loss of £77.5 million.

In just one year there were 14,847 reports of fraud relating to financial investment schemes, through which the public lost a total of £337.9 million.

Pyramid and Ponzi schemes are the second most costly type of fraud on a nationwide scale, with 3,740 cases leading to a total loss of £250.4 million.

Share sales and boiler room fraud round off the top three most expensive types of fraud, with losses totalling 146.7 million.



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