London, October 25, 2024 – England and Wales have seen a substantial uptick in consumer and retail fraud this year, according to the Office of National Statistics (ONS). The report indicates approximately 3.6 million fraud incidents in 2024, marking a 19% increase from the same period last year, which saw 3.3 million cases. While the rise is statistically non-significant, the scale of fraud continues to draw attention.
Out of the reported cases, about 2.7 million incidents led to financial losses or property theft, with 1.9 million victims fully reimbursed for their losses. Data sources for this report include police records and findings from the Crime Survey for England and Wales (CSEW), covering the year ending June 2024.
While ONS observed a 19% increase, police statistics reflect a smaller, 11% rise in fraud cases. The discrepancy is partially due to UK Finance’s contributions, with the trade association collaborating closely with member organizations to bolster the National Fraud Intelligence Bureau. This partnership led to a 22% increase in reportable offenses.
Action Fraud also reported a 7% rise in incidents for the period, while Cifas, a prominent fraud prevention service, saw a modest 1% decrease in fraud cases. Notably, card-not-present (CNP) fraud surged by 26% as authorised push payment (APP) fraud cases declined in the first half of 2024.
The rising fraud statistics underline the continued efforts by law enforcement and fraud prevention agencies to refine their approach and respond to the evolving tactics in consumer and retail fraud.
