RISING numbers of fraudsters hoodwinking vulnerable residents into parting with cash will see a new campaign rolled out across Barnsley to combat criminals preying on victims.

According to South Yorkshire Police, an older person is a victim of fraud every 40 seconds and the typical targets of so-called ‘courier fraud’ are individuals over the age of 70.

https://www.barnsleychronicle.com/article/27480/new-campaign-targets-fraudsters/

Sun seekers looking to book their summer getaway are being warned to look out for fraudulent deals, as new data released today shows victims lost a staggering £12.3 million to holiday fraud last year.

Action Fraud, the national fraud and cyber crime reporting service, has launched a holiday fraud campaign ahead of the summer months, urging holiday goers to play it safe online and do their research before booking their trip.

https://www.actionfraud.police.uk/news/dont-lose-out-before-flying-out-action-fraud-urge-holiday-makers-to-watch-out-for-fraudsters-online

Just under half (42 per cent) of regulated firms have reported a rise in financial crime attempts, according to anti-money laundering provider SmartSearch.

The survey, which asked over 500 UK businesses across the legal, property, finance and accountancy sectors, found nearly half (48 per cent) of legal professionals, solicitors and conveyancers reported a rise in financial crime attempts in 2023, compared to 34 per cent the year prior.

https://www.ftadviser.com/your-industry/2024/02/27/half-of-firms-battle-surge-in-financial-crime-attempts/

The UK anti-fraud agency has raided three residences and made four arrests in North West England in relation to an investigation into Signature Group.

The Serious Fraud Office (SFO) has announced it is investigating Signature Group, a business that attracted over a thousand investors in the redevelopment of landmarks including Belfast’s Scottish Mutual Building and the Coal Exchange in Cardiff.

https://www.cityam.com/sfo-launches-probe-into-140m-property-fraud/

What is Check a Website?

Check a website is an easy-to-use online tool which helps you to determine whether a website is likely to be legitimate or a scam … before you visit it.

Provided in the UK by Get Safe Online in conjunction with Cifas, ScamAdviser and our other partners, it cleverly uses an algorithm to provide a trust score based on more than 40 data sources as well as thousands of reports of malicious websites from law enforcement agencies, regulators and consumer brands every week.

https://www.getsafeonline.org/checkawebsite/

Advance fee fraud is when fraudsters target victims to make advance or upfront payments for goods, services and/or financial gains that do not materialise.

Types of advance fee fraud include:

Career opportunity scams

Clairvoyant or psychic scams

Cheque overpayment fraud

Dating or romance scams

Fraud recovery fraud

https://www.getsafeonline.org/personal/articles/advance-fee-frauds/

Lancashire-based Guy Flintham has plead guilty to defrauding investors at Southwark Crown Court today (February 19), after the Financial Conduct Authority launched proceedings against him.

Between January 2016 and November 2021, the regulator alleged Flintham defrauded around 240 investors by persuading them to invest approximately £19mn in an investment scheme operated by the 46-year-old.

https://www.ftadviser.com/fca/2024/02/19/individual-pleads-guilty-to-19mn-investment-fraud/

The amount of money lost to fraudsters in the UK during 2023 more than doubled to a total of £2.3bn, a report finds.

Victims of high-value fraud – cases involving losses of over £50,000 – shot up by 60% last year, while half were for losses of over £200m, which is almost triple the amount compared to 2022.

https://www.yourmoney.com/household-bills/news-household-bills/money-lost-to-fraud-in-the-uk-more-than-doubles-to-2-3bn/

Allianz Commercial reported a significant increase in detected claims fraud for the year 2023, with the figures reaching £77.4 million, up from £70.7 million in the previous year.

The insurer also reported savings of £1.95 million from application fraud, attributed to the ongoing cost-of-living crisis, which is believed to be exacerbating financial pressures on businesses, consequently elevating the risk of insurance fraud.

https://www.insurancebusinessmag.com/uk/news/claims/allianz-fraud-savings-in-claims-hit-nearly-80-million-in-2023-476837.aspx

LONDON (Reuters) - Britain should allow law enforcement authorities to pay for key evidence to incentivise whistleblowing and speed up white-collar crime probes, the head of the UK's fraud watchdog said on Tuesday.

Nick Ephgrave, the director of the Serious Fraud Office (SFO), said he wanted the agency to deal with cases more quickly under his leadership.