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.


Subscribe to Charged Retail for free

Click here to get the latest retail tech news free in your inbox each day


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.

NewsSecurity

RELATED POSTS

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.