Fraud: Costs

Home Office written question – answered on 20th July 2022.

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Photo of Emily Thornberry Emily Thornberry Shadow Attorney General

To ask the Secretary of State for the Home Department, what estimate her Department has made of the total financial cost of fraud in the UK against (a) individuals and (b) businesses in (i) financial year 2020-21, (ii) calendar year 2021 and (iii) financial year 2021-22.

Photo of Stephen McPartland Stephen McPartland Minister of State (Home Office) (Security)

We do not hold estimates for the total financial cost of fraud in the UK to individuals and businesses for the financial years 2020-21, 2021-22 or the calendar year 2021.

We do have the published estimate for the 2015/16 total cost of fraud against individuals: £4.7 billion. This figure can be found at:

https://www.gov.uk/government/publications/the-economic-and-social-costs-of-crime

The Crime Survey for England and Wales estimates the volume of fraud experienced by individuals and their average losses. This can be found at:

https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/datasets/crimeinenglandandwalesappendixtables

Action Fraud is our central reporting service and records reported financial losses experienced by businesses and individuals. This can be found at:

https://colp.maps.arcgis.com/apps/dashboards/0334150e430449cf8ac917e347897d46

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