By: 21 September 2023
£7.5 billion vanishes: 1 in 10 Britons hit by scams

A study has revealed that a significant 10% of Britons fell victim to scams or identity theft in the past year, resulting in approximately £7.5 billion in financial losses.

The recent survey of 2,000 British citizens was conducted by the Global Anti-Scam Alliance (GASA) in collaboration with Cifas – the UK’s foremost fraud prevention agency. 

62% of respondents reported receiving scam messages at least once a month, and 53% noted a significant increase in scam encounters over the last year.  

“Scams have now reached an unprecedented level, with criminals and career fraudsters constantly looking for new opportunities to scam UK citizens and cause significant distress to victims,” said Mike Haley, CEO of Cifas. 

“UK consumers continue to find themselves increasingly targeted by phishing and smishing campaigns offering financial help or investment opportunities, employment scams, fake adverts for rental properties as well as purchase and delivery scams. So now more than ever, we need to ensure there is more, effective regulation of online platforms and recognise the serious harm that their fraudulent content is causing to consumers.”  

The scams are not limited to one channel. Email platforms like Gmail and Outlook were used for fraud by 64% of participants, while 56% reported scam attempts via phone calls. These scams employ various tactics, from phishing to the infamous ‘Advance Fee’ scams, leaving victims vulnerable to an average of 1.6 scams each. 

The impact of these scams extends beyond financial losses, causing emotional and psychological trauma for 46% of victims. Despite this, 66% of respondents choose to handle the aftermath privately, without reporting the scam to any authority. 

In response to this concerning trend, Cifas is advocating for stricter regulation of online platforms. The UK Government’s Online Safety Bill is seen as a significant step forward in this regard. At GASA’s Global Anti-Scam Summit (GASS) in Lisbon on October 18-19, Cifas will lead discussions on preventative actions to combat scams, emphasising the importance of international cooperation. 

 Access the full report from GASA. 

Image: © A and N Photography via Canva
Josie Geistfeld
Josie is an editor for Claims Media. She welcomes feedback, comments, and opinion at josie.geistfeld@barkerbrooks.co.uk