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We saw some small reductions in the amount stolen through payment fraud in 2023, but with losses of nearly £1.2 billion it remains a major problem and threat to the UK.

The damage this crime does is huge. The organised criminals and other threat actors who perpetrate these awful crimes cause serious harm to individuals, to society and to our country.

Fraud in all its forms continues to represent over 40 per cent of reported crime. That is the scale of the challenge we continue to face

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On 18 March 2024, the Sentencing Council published a response to the third annual consultation on miscellaneous amendments to sentencing guidelines, and made changes to a number of the sentencing guidelines. Relevant to MFF members, the Council was made aware of a potential difficulty in sentencing cases where there is little or no financial harm but a high level of non-financial impact on the victim. As a result the fraud guideline will be amended from 1 April 2024 to give increased recognition to the impact on victims in circumstances where there is no or limited financial loss with the wording: "Serious detrimental effect on the victim whether financial or otherwise (including emotional and psychological harm)".

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