• Total volume of alleged fraud cases of over £100k reaching UK Crown Courts higher in 2023 compared to previous year; while total value hits nearly £1 billion
• The public sector was the most common fraud victim type by value

Figures published today from KPMG UK’s Fraud Barometer, which records alleged fraud cases with a value of £100k and above, reveals that the total volume of fraud cases heard in UK Crown Courts was 226 cases in 2023, up from 221 cases in 2022. In contrast, fraud value was £992.9 million, a slight decrease from £1.1 billion the previous year.

https://kpmg.com/uk/en/home/media/press-releases/2024/02/fraudsters-stay-bullish-despite-efforts-to-curb-their-crimes.html

The UK government has been urged to do more to crack down on fraud after new data showed the number of high-value criminal cases reaching the courts has stayed flat despite a sharp rise in fraud.

UK crown courts heard 226 fraud cases last year compared with 221 in 2022, according to new figures from KPMG’s Fraud Barometer, which tracks cases worth £100,000 and above. KPMG recorded 298 such cases in 2021, a 66 per cent increase from 2020.

https://www.cityam.com/prosecutions-fail-to-keep-up-with-uks-growing-fraud-epidemic/

How parents may be committing insurance fraud without realising it.

One Sure Insurance, an insurance broker, has advised parents to be more honest when it comes to their insurance policies because they may be committing insurance fraud unknowingly.

https://www.insurancebusinessmag.com/uk/news/breaking-news/one-sure-insurance-calls-on-parents-to-be-honest-about-insurance-475495.aspx

It’s a sad fact that fraudsters will take advantage of your generosity when you decide to give to charity.

Action Fraud, National Fraud & Cyber Crime Reporting Centre have highlighted how you can give safely to charity. It’s always important to be vigilant to make sure you are giving to a legitimate organisation.

https://crimestoppers-uk.org/news-campaigns/news/2024/feb/4-tips-on-how-to-give-safely-to-charity

Soaring levels of authorised push payments fraud in the UK are turning consumers off digital banking, according to research conducted by Visa.

APP fraud occurs when someone is tricked into transferring money to a fraudster posing as a genuine payee. Total losses due to APP scams exceeded £239 million in the first half of 2023 according to UK Finance, and one-in-three of those surveyed by Visa reported having fallen victim to APP fraud.

https://www.finextra.com/newsarticle/43622/one-in-three-consumers-falling-victim-to-app-fraud---visa

According to Cifas research, one in six UK adults have exaggerated their earnings to get a mortgage, or know someone that has.

The fraud prevention service found that some people are prepared to dishonestly inflate their earnings by as much as £10,000, and even forge payslips, in order to buy or remortgage a home.

https://www.yourmoney.com/mortgages/one-in-six-will-commit-mortgage-fraud-to-get-a-deal/

A quarter of young people would lie on car insurance applications to get cheaper policies amid soaring costs, the industry warned.

A survey by Insurance Fraud Bureau found a quarter of 18 to 24-year-olds would lie to get cheaper insurance, with more risking “fronting” by posing as a named driver on a parent’s main policy.

https://uk.news.yahoo.com/young-drivers-could-risk-fraud-111738696.html

A fraudster who promised energy savings and complete home security through his products and services has been found guilty of conning elderly and vulnerable residents out of £1.5million.

Robin McDonald, aged 45, of Burton-on-Trent, was found guilty of conspiracy to commit fraud by false representation along with charges of fraudulent trading following a five-month trial at Nottingham Crown Court.

https://westbridgfordwire.com/fraudster-conned-elderly-victims-in-1-5-million-energy-and-security-scam/

A scam is when someone tries to take your money by pretending to help you, or by offering you something which they are not going to give you.

If someone pretends to help you, they might ask you for information which can help them to try to take your money.

https://www.mencap.org.uk/easyread/how-protect-yourself-scams

Over half the fraud detected by the Student Loans Company was at franchised higher education providers, an investigation has found.

The National Audit Office (NAO), the UK’s public spending watchdog, led an investigation into the fraud and abuses of higher education student loans.

https://theboar.org/2024/01/half-of-student-loan-company-fraud-aimed-at-higher-education/