The Fraudster's World Report highlighted that nearly one in five UK adults experienced fraud from 2021 to 2023, stressing that global cooperation is essential for effective prevention.
The SMF report pointed out that 41% of UK fraud victims have lost trust in others, indicating the emotional toll of fraud extends beyond financial losses.
An alarming statistic revealed that the average loss per fraud victim in the UK was around £907, while 33% reported negative emotional impacts, illustrating the serious consequences of scams.
Recommendations included establishing legal responsibilities for private sector organizations involved in the fraud chain to prioritize protective measures and bear the associated costs.
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