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<p>Fraud covers a diverse range of modus operandi and as a result losses incurred by victims can vary and there is no typical victim. Caution should therefore be applied in using data to generate an average loss figure.</p><p>The Office for National Statistics publish annually the financial losses for fraud broken down into bands, Fraud victims incurred a financial loss in around two in three (64%) incidents in the year ending March 2022 Telephone-operated Crime Survey for England and Wales (TCSEW) (Nature of crime: fraud and computer misuse table 8a). Financial loss represents incidents where an amount of money or cash had been stolen or taken as a direct result of fraud, regardless of any later reimbursement, or any additional charges or costs incurred (such as bank charges, repair costs or replacement costs).</p><p>In incidents for which victims suffered a financial loss:</p><ul><li>the average (median) loss being £79</li><li>the majority (77%) incurred a loss of less than £250</li><li>around 14% incurred a loss of between £250 and £999, and the remaining 9% incurred a loss of £1,000 or more</li></ul><table><tbody><tr><td colspan="3"><p><strong>Financial loss suffered by victims of fraud, Telephone-operated Crime Survey for England and Wales (TCSEW)</strong></p></td></tr><tr><td><p><strong>Financial loss</strong></p></td><td><p><strong>Total proportion of frauds</strong></p></td><td><p><strong>Percentage of those frauds involving financial loss<br> [note 1]</strong></p></td><td><p><strong>Cumulative total</strong></p></td></tr><tr><td><p>No financial loss</p></td><td><p>35.5</p></td><td><p>[z]</p></td><td><p>[z]</p></td></tr><tr><td><p>Less than £20</p></td><td><p>7.0</p></td><td><p>10.9</p></td><td><p>10.9</p></td></tr><tr><td><p>£20 - £49</p></td><td><p>15.9</p></td><td><p>24.7</p></td><td><p>35.6</p></td></tr><tr><td><p>£50 - £99</p></td><td><p>13.4</p></td><td><p>20.8</p></td><td><p>56.4</p></td></tr><tr><td><p>£100 - £249</p></td><td><p>13.6</p></td><td><p>21.1</p></td><td><p>77.5</p></td></tr><tr><td><p>£250 - £499</p></td><td><p>6.6</p></td><td><p>10.2</p></td><td><p>87.7</p></td></tr><tr><td><p>£500 - £999</p></td><td><p>2.3</p></td><td><p>3.6</p></td><td><p>91.2</p></td></tr><tr><td><p>£1,000 - £2,499</p></td><td><p>3.2</p></td><td><p>4.9</p></td><td><p>96.1</p></td></tr><tr><td><p>£2,500 - £4,999</p></td><td><p>1.5</p></td><td><p>2.3</p></td><td><p>98.4</p></td></tr><tr><td><p>£5,000 - £9,999</p></td><td><p>0.4</p></td><td><p>0.7</p></td><td><p>99.1</p></td></tr><tr><td><p>£10,000 or more [note 5]</p></td><td><p>0.6</p></td><td><p>0.9</p></td><td><p>100.0</p></td></tr><tr><td><p>Median loss [note 6] [note 7]</p></td><td><p>[z]</p></td><td><p>£79</p></td><td><p>[z]</p></td></tr><tr><td><p>Unweighted base - number of incidents</p></td><td><p>2,708</p></td><td><p>1,653</p></td><td><p>[z]</p></td></tr></tbody></table><p>Source: <a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.ons.gov.uk%2Fpeoplepopulationandcommunity%2Fcrimeandjustice%2Fdatasets%2Fnatureofcrimefraudandcomputermisuse&data=05%7C01%7CYasmin.Tariq1%40homeoffice.gov.uk%7Cb4239add62854bb6e45908db1bdd27b4%7Cf24d93ecb2914192a08af182245945c2%7C0%7C0%7C638134408879745424%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=0A0F2FuAjFpa7AXniZUEnUdEPrWHJcSzbWXnkJusTlQ%3D&reserved=0" target="_blank">Office for National Statistics - Telephone-operated Crime Survey for England and Wales (TCSEW)</a></p><p><em>Note 1: This represents incidents where an amount of money or cash had been stolen or taken as a direct result of fraud, regardless of any later reimbursement, or any additional charges or costs incurred (such as bank charges, repair costs or replacement costs). </em></p> |