Fraud report data from the Crime Survey for England and Wales (CSEW) reveal a sharp rise in fraud cases. Between 2023 and 2024, incidents jumped from three to four million, representing a 33 per cent increase in just one year. These figures signal a growing threat in our digital world and show how urgent it is to take fraud prevention seriously.
Scams have evolved over the last few years, as fraudsters now blend artificial intelligence, fake websites, and remote-access software. They create realistic videos of well-known figures and lure victims with promises of quick returns. Fraudsters exploit trust, emotion, and urgency. They know that the fear of missing out can push people to act before they think.
Real Impact on Victims
Fraud devastates more than wallets. It shatters confidence and damages credit scores. It can lead to debt, anxiety and even homelessness. The CSEW fraud report shows that 75 per cent of victims lose money. Two-thirds recover their funds, but nearly one million people lost out last year alone.
Take Des Healey from Brighton. He saw a manipulated video of tech billionaire Elon Musk and money expert Martin Lewis. The AI clip touted a new Bitcoin scheme. Intrigued, Des shared his name, email, and phone number. That small step cost him £75,000. He made an initial investment of £5,000 and then added £10,000.
Scammers then pressured him into taking out loans totalling £70,000. They showed fake dashboards that climbed in value but would not let him withdraw. Des installed a remote-access app so they could control his phone. By the time he realised he faced a scam, the damage was done. Two banks later forgave some of his debt. Yet he still owes £27,000 to other lenders. His credit rating fell, and bailiffs may soon visit. He struggles with stress and takes antidepressants. His story highlights how one scam can destroy a life.
Spotting Common Scams
Fraud now targets everyone, from tech novices to seasoned investors. Understanding how they work helps you spot red flags. Investment scams often promise huge crypto gains. Fraudsters use deepfake videos and fake celebrity endorsements. They push victims to share private details and download apps. A genuine investment opportunity would never require you to share your password or install unknown software. Always verify investment offers with regulated financial advisers.
Bank and credit account fraud remains widespread. Scammers steal card details or open accounts in your name. They then withdraw cash or make online purchases. Many banks now send instant alerts for transactions. If you spot an unexpected charge, report it immediately. That small action can stop further losses.
Scammers also use social media to gather personal details. They send messages that mimic friends or family, using public photos and posts. They might wish you a happy birthday or reference a shared memory. These tactics build trust and lower your guard. Checking your account settings and limiting what strangers can see is vital in the fight against fraud.
Strengthening Your Defences
You can build strong barriers against fraud without complex tools or jargon. Simple, clear steps go a long way. Start by using strong and unique passwords. Combine letters, numbers and symbols in a way you can remember. Never reuse a password across sites. A secure password manager can handle the rest.
Next, enable two-factor authentication (2FA) on every account that offers it. This adds a second level of security when you attempt to log in. Even if someone steals your password, they still need your phone or security key. Keep an eye on your accounts every day. Turn on alerts for withdrawals, deposits, and log-in attempts. A single message on your phone can alert you to suspicious activity. If you spot something odd, contact your bank or provider immediately.
Be sceptical of anyone who asks you to install remote-access software. No legitimate bank or official body will request complete control of your device. If they do, end the call or delete the message. Treat all unsolicited calls and messages with caution. If someone claims to be from your bank, hang up and dial the number on the back of your card. Do not use any contact details provided by the caller.
Stay updated on emerging scams. Action Fraud and Victim Support publish alerts on new threats. Spend a few minutes each month reviewing their advice. That small habit can save you thousands of pounds. If you manage substantial assets online, consider a cyber insurance policy. While not common for private individuals, some providers now offer affordable plans that cover data breaches and malware losses.
Finally, secure your social media. Review privacy settings on Facebook, Instagram, and other platforms. Limit what you share publicly, especially birthdays, home addresses, and financial details. Fraudsters use this data to personalise their attacks.
What to Do If You Are Scammed
Even the most careful people can be targeted. If you fall victim, act immediately. A fast response can limit the damage. First, contact your bank. Ask them to freeze your accounts and block any pending transactions. If you act within 24 hours, banks often reverse unauthorised transfers. Next, report the crime to Action Fraud. Their online portal and 24-hour helpline record details of fraud cases. The more information you provide, the better they can track the criminals.
Third, alert the three leading credit reference agencies: Experian, Equifax, and TransUnion. Ask for a fraud alert on your file. This warning flag forces lenders to verify your identity before approving credit. Change your passwords on all accounts, starting with email and banking. A scammer who gains entry to your email can reset passwords on other services.
Monitor your credit report every month. Look for new accounts or inquiries you did not authorise. Free monitoring services can help spot issues early. Seek support for stress and anxiety. Fraud can affect mental health as much as finances. Victim Support offers free counselling and practical advice. Talking to a friend or financial adviser can also ease the burden.
Take Control Today
The surge in fraud cases across England and Wales makes one thing clear: no one is immune. Scammers adapt quickly, using AI and deepfake technology to appear genuine. They prey on emotions, trust and urgency. But you hold the power to protect yourself. By strengthening passwords, turning on two-factor authentication and staying alert to new scams, you build an effective defence. Daily checks on your accounts, alongside clear actions after a suspected scam, can limit losses and stress.
Fraud prevention is not a one-time thing. It demands ongoing awareness and simple habits. Visit official sites like Action Fraud and Victim Support for the latest alerts. Share their advice with family and friends. Encourage everyone to treat fraud as the serious crime it is. Don’t wait until you become a victim. Take action now to secure your identity and your savings. Your future self will thank you.
