Online fraudsters are costing Britons billions

April 6, 2023


Cyber security experts are in a constant battle with criminals who employ new tacgtics almost daily to circumvent protective measures.

Online scams

UK citizens lost nearly £4bn to fraudsters who are focused on online scams, according to a new study.

Figures released by Atlas VPN, the losses amounted to £10.7m per day from a total £3.9bn.

In the last 12 months, there have been 345,000 reported cases of online crime.

Highest number
The capital, London, recorded the highest number at 60,000 (£1.8bn) followed by the east of England with 42,000 (£268m).

Online scams were most common, accounting for 67,460 cases; hey cost victims £103.2 million, averaging to £1,530 per scam.

According to Atlas VPN: “Cheque, plastic card, and online bank account fraud collectively cost consumers a staggering £823.5 million — more than any other type of fraud.”


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