According to statistics, there have been 4.5 million fraud instances since 2020, a 25% increase.
According to the Office for National Statistics, there has been a significant increase in the number of scams in which money is given beforehand in exchange for money, a job, items, or services that never materialize.
A little more than 75% of those who lost money had less than £250 taken, 14% had money stolen from them for between £250 and £999, and 9% lost more than $1,000.
According to the Crime Survey for England and Wales, a survey of the general population, there were 4.5 million fraud offenses in the year ending in March 2022, a 25% increase from two years prior. Also more than doubling to 1.3 million offenses, computer hacking.
Police-recorded crime rose by 17% in the year to March 2021 compared to the prior 12 months and by 25% in the year to March 2022 compared to two years earlier, reflecting the surge in fraud.
According to the crime study, the percentage of fraud offenses classified as cyber-related increased from 53% in the year ending in March 2020 to 61% in the year ending in March 2022.
Between March 2020 and March 2022, there were 1.6 million computer misuse offenses, a rise of 89%, primarily due to an increase in unlawful access to personal information.
Phishing mails, typically purporting to be from a bank or delivery service, were the most popular technique.
In the year to March 2022 compared to the prior year, fraud offenses decreased by 11% to 354,758 offenses, according to Action Fraud, the national fraud and cybercrime reporting center.
A decrease in reported consumer and retail fraud contributed to this.
In the same time period, according to UK Finance, which represents the banking sector, there were 246,285 fraud offenses, a spike of 151% from the previous year.
However, this was attributed to increased reporting by current members and complaints from new members who joined in late 2021.