• Identity fraud remains dominant, with criminals favouring impersonation tactics
• Increases in account takeover and false applications
• Despite the challenges, UK organisations still prevent £2.1bn in fraud losses

Cifas, the UK’s leading fraud prevention service, has published its annual Fraudscape report today (3 April) which reveals a staggering 421,000 cases were filed to the National Fraud Database (NFD) in 2024 – a 13% increase and the highest number on record.

The sharp rise is one of the largest annual increases ever observed by Cifas, underscoring the growing scale and complexity of fraud in the UK. Its members also recorded a case to the NFD every two minutes, preventing over £2.1bn in fraud losses.

https://www.cifas.org.uk/newsroom/fraudscape-2025-record-fraud-levels

A haul of items seized by police reveals the scale and threat of payment fraud – a crime that can have significant emotional impact on victims.

On a shelf between Alexander McQueen shoes, Louis Vuitton handbags and Versace heels in the police evidence room are an 18-inch machete and a serrated zombie knife. Alongside the expensive fashions bought with the proceeds of serious fraud are the tools needed to achieve it, says DCI Paul Curtis.

“These are serious offenders and for whatever reason they felt the need to have these to protect themselves,” he says. Among the other tools are “Sim farms” bought on the dark web, which scammers use to send out numerous text messages at once; stacks of laptops; and mobile phones and payment card readers.

The tools and spoils of crime have come from raids headed by the Dedicated Card and Payment Crime Unit (DCPCU), whose offices the Observer visited this month. Tasked with uncovering payment fraud across the country and charging the perpetrators, this group of officers from the City of London and Metropolitan police forces are at the forefront of the battle against fraud.

https://www.theguardian.com/money/2025/mar/31/changing-threat-police-hunting-hi-tech-scammers-uk-billions?CMP=share_btn_url

The ACFE and ACCA to focus on research and learning in three-year MOU.

AUSTIN, Texas (March 27, 2025) – With fraud continuing to plague businesses and the wider economy, the Association of Chartered Certified Accountants (ACCA) and the Association of Certified Fraud Examiners (ACFE) have signed a Memorandum of Understanding (MoU) to collaborate in key areas, including thought leadership research and learning.

The partnership will build on existing thought leadership collaboration, including on an upcoming ACCA report on combatting fraud, to identify new joint research opportunities.

The MoU — which is for an initial period of three years — explores opportunities for the development and joint organization of continuing professional development (CPD) and continuing professional education (CPE).

Helen Brand, ACCA chief executive, said: 'ACCA has had a long-standing commitment to empowering members to better address and manage fraudulent activities, focused on improving risk assessment, robust controls and forensic auditing.

'This MOU reinforces that commitment. We look forward to working with fellow global professional body ACFE in promoting the highest ethical business standards.'

One immediate outcome of the MOU is ACCA's attendance at the 2025 ACFE Fraud Conference Europe in London (March 24-26) where a joint panel discussion, led by ACCA's global head of risk management and corporate governance for policy and insights Rachael Johnson, focused on cyber fraud and AI-powered attacks as well as AI-powered solutions to detect them.

https://www.acfe.com/about-the-acfe/newsroom-for-media/press-releases/press-release-detail?s=ACFE-ACCA-partnership-announcement-pr

Examining social engineering tactics and the escalating risks facing organisations, SoSafe, the security awareness and human risk management solution, has revealed that AI’s usage in cyberattacks has skyrocketed, with nearly nine in 10 respondents encountering some form of attempted breach.

The SoSafe report, called 2025 Cybercrime Trends, explored the views of 500 global security professionals as well as 100 SoSafe customers across 10 countries. AI was a major talking point raised by the respondents, with 91 per cent of all security experts anticipating a significant surge in AI-driven threats over the next three years.

Only 26 per cent express high confidence in their ability to detect these attacks. Given that 87 per cent of firms admitted to experiencing some form of AI-driven cyberattack in the last year, it is extremely concerning that just over one in four firms are confident in their own abilities to deal with an attack.

https://thefintechtimes.com/sosafe-reveals-fraud-levels-set-to-rise-employee-training-is-key-to-fight-ai-driven-cyberattacks/

Environment Agency and partners worked together to secure the arrests following an extensive investigation.

Two men were arrested for fraud and money laundering recently (Wednesday 12 March) as part of an ongoing investigation into illegal recycling export paperwork.

Officers from the Environment Agency and North West Regional Organised Crime Unit worked together to secure the arrests and custody of the suspects following an extensive investigation which found packaging export notes, used by law-biding firms exporting waste to cover recycling costs, were unlawfully sold for £747,000.

A 45-year-old man was arrested at a property in Rusholme, while a 43-year-old man was detained in Stretford. Both have now been interviewed and released on bail, while evidence gathered by the Environment Agency during the arrests will support the next part of their investigation.

Vernon Smith, Acting Deputy Director for Environmental Markets and Regulation at the Environment Agency, recently said:

Fraud in the recycling industry is waste crime. It undercuts legitimate businesses investing in growth in the circular economy, impacting the environment we are striving to protect. The Environment Agency is determined to clamp down on it.

Working with the North West Regional Organised Crime Unit, these arrests are a significant milestone for our extensive investigation. Our teams will now examine the evidence gathered to bring these individuals to justice and end their fraudulent activities once and for all.

Detective Chief Inspector Zoe Russo from the North West Regional Organised Crime Unit added:

These arrests highlight the importance of collaborative efforts in tackling organised crime. We are committed to working with our partners to disrupt and dismantle criminal networks involved in waste crime and other illegal activities. The evidence collected will be crucial in ensuring those responsible are held accountable.

The Packaging Producer Responsibility Regulations were introduced to oblige the producers of waste packaging such as plastic, glass and cardboard to contribute towards the financial cost of recycling and disposing of the waste.

Businesses that meet the criteria are required to prove they have made a financial contribution by purchasing credits, known as Packaging Export Recovery Notes, from waste reprocessors or exporters. However, the credits have a monetary value which means organised criminal gangs can look to infiltrate the sector and engage in high value fraud and money laundering.

This investigation forms part of large-scale activity by the Environment Agency to stamp out fraud and money laundering in the waste sector. If a member of the public has any information that may assist with this investigation, they should call the Environment Agency’s 24-hour hotline on 0800 807060. They can also report it anonymously via Crimestoppers on 0800 555111 or their website

https://www.wired-gov.net/wg/news.nsf/articles/Manchester+pair+arrested+over+recycling+fraud+14032025132500?open

Ted Datta from Moody’s explains how to strengthen fraud defences with innovation and collaboration

In an era where fraud schemes are increasingly sophisticated and prevalent, the need for businesses, banks, and government teams to shore up defences has never been greater. In the UK, Public-Private Partnerships (PPPs) are essential in bringing together stakeholders, including big tech companies, banks, fintech firms, credit lenders, and government departments to collaborate on addressing fraud and financial crime more widely.

Why the emphasis on collaboration? The financial impacts of fraud are significant to both government and commercial revenues and individual victims. Fraud losses are estimated at more than $1 trillion globally each year, so PPPs have a crucial role to play in tackling scams and reducing losses.

https://www.openaccessgovernment.org/strengthening-fraud-defences-with-innovation/189847/

The Serious Fraud Office (SFO) has signed Clue Computing to provide a cloud based case management system for its investigations.

They have agreed on a £4.5 million contract – duration unspecified – for the company to provide an off-the-shelf but configurable solution based in the UK. The latter point responds to the SFO’s need to return the information in the UK due to the sensitivity of the cases it handles.

The contract award notice says the company “will be responsible for the technical configuration and implementation of the solution”, which will have the flexibility and adaptability to “permit SFO to maintain resilience against inevitable change”.

Clue is a specialist in investigation and intelligence management software, with existing customers including the Department for Education and the Veterinary Medicines Directorate

https://www.ukauthority.com/articles/serious-fraud-office-signs-clue-for-case-management-system/

422 people have been arrested in a UK-wide campaign against fraud, coordinated by the National Economic Crime Centre and City of London Police.

The activity, which was the fourth iteration of the multi-agency Operation Henhouse, ran across February 2025 and resulted in:

• 422 arrests
• 155 voluntary interviews
• 362 cease and desist notices
• account freezing orders against £3.9m
• seizures of cash and assets worth £7.5m

Fraud is the most prevalent crime in the UK, causing victims long-lasting emotional and psychological harm as well as financial loss. It accounts for approximately 41% of all crime reports, and costs an estimated £6.8bn each year in England and Wales alone.

Every single UK police force and Regional Organised Crime Unit took part in the operation. They were joined by national agencies including the Financial Conduct Authority, National Crime Agency and National Trading Standards.

https://www.nationalcrimeagency.gov.uk/news/operation-henhouse-422-arrests-and-7-5m-seized-in-national-crackdown-on-fraud

Social media and email account hacking reports jumped last year, according to Action Fraud data.

A total of 35,434 reports were made to the fraud and cybercrime reporting service in 2024, compared with 22,530 reports made in 2023.

Action Fraud has launched a campaign, supported by Meta, to encourage people to take an extra step of online protection by enabling two-step verification for each online account they have.

The most common motives for social media hacking were either investment fraud, ticket fraud or theft of the targeted account, Action Fraud said.

Adam Mercer, deputy director of Action Fraud, said: “As social media and email account hacking remains the most reported cybercrime this year, this Action Fraud campaign marks a critical issue for everyone who has online accounts.”

David Agranovich, security policy director, Meta, said: “Scammers are relentless and continuously evolving their tactics to try to evade detection, which is why we’re constantly working on new ways to keep people safe while keeping bad actors out.

“Two-factor authentication (2FA) is one crucial example of how people can add an extra layer of security to their Meta accounts, to help reduce the risk of scammers accessing your accounts.

https://uk.finance.yahoo.com/news/warning-issued-social-media-email-000100974.html

A reverend whose house was sold without him knowing has had the property returned to him nearly four years on, after a family was ordered to leave.

Mike Hall returned to his Luton home from Wales in 2021 to find someone impersonating him had sold it on for £131,000, after his identity was stolen.

Land Registry eventually put his name back on the title, but when he returned again in 2023 he found a family living there.

At Luton County Court on Monday, Judge Elaine Vignoli granted Mr Hall outright possession of the home in 14 days.

Mr Hall said he was "quite angry about the way in which this has played out", and "quite sad" for both himself and the family living there.

While working in north Wales in 2021, Mr Hall was alerted by neighbours that someone was in his house and all the lights were on.

Mr Hall drove back to Luton and found a new owner carrying out building work.

"I tried my key in the front door, it didn't work and a man opened the front door to me - and the shock of seeing the house completely stripped of furniture, everything was out of the property," he said.

BBC Radio 4's You and Yours programme obtained the driving licence used to impersonate Mr Hall, details of a bank account set up in his name to receive the proceeds of the sale, and phone recordings of a man claiming to be Mr Hall instructing solicitors to sell the house.

After he reclaimed ownership two years later, a BBC reporter visited the home and spoke to a man and a woman with a young child who had a bogus rental contract.

https://www.bbc.co.uk/news/articles/cwygv79n8x1o