Fraud and cybercrime 'cost UK nearly £11 billion in past year'

 Fraud and cybercrime

The UK public and small businesses are being urged to start making every day safer as the latest online crime figures from Get Safe Online and the National Fraud Intelligence Bureau (NFIB) reveal that a staggering £10.9 billion was lost to the UK economy as a result of fraud, including cybercrime, in 2015/16.

That equates to approximately £210 per person over the age of 16 living in the UK - but represents only reported fraud and cybercrime to Action Fraud.

However, a specially commissioned survey to mark Get Safe Online Day (18 October), reveals that this number is likely to be much greater, with respondents who had been a victim of online crime alone losing an average of £523 each – this being more than the average weekly earnings figure for the UK which currently stands at £505.

In addition, 39% of people who said they’d been victims of online crime said they hadn’t reported the incident – this meaning that the overall amount of money lost by the UK could in fact be even more.

A quarter of the UK public said that they had a limited understanding of the risks they face when going online, but nine in 10 (89%) said they were somewhat or very concerned about their online safety and security. 89% also felt online crime was as damaging or more damaging than physical crime.

See the full Fraud and cybercrime story

We're here to help

Go to our Help and support section for tips and advice on making this site easier to use, using our services, understanding impairments, and contacting us. To get in touch right now, use the Email, Chat or BSL links.