Fraud Cases Investigated in London

According to statistics reported by the National Fraud Intelligence Bureau, there were 230,845 cases of fraud record during the 2013/2014 fiscal year in Britain. The figures averages out to over 630 cases of fraud being reported each day.

The number of fraud cases reported was 89 percent higher than the previous fiscal year, when 122,240 cases of fraud were reported.

Security officials state that nearly 70 percent of all fraud cases involves some sort of cyber element.  5 years ago, the cyber element involves roughly 40 percent of all fraud cases.

Pure cyber crime cases, such as hacking or computer virus attacks on companies, increased to 22,315, nearly double the 11,523 attacks recorded in the previous fiscal year. 494 companies reported that there computer servers were breached.

Nearly 6,000 people also reported to the police that their Facebook profiles have been hacked. Security officials state that most of these cases involved id thieves attempting to collect personal data.

Cyber crime costs Britain’s economy up to $45 Billion (£27 Billion ) a  year.

(See all statistics about crime in the UK.)

Source:  Justin Davenport, “Seven out of 10 frauds are now cyber crimes, police chief warns,” London Evening Standard, April 28, 2014.