The Global Anti-Scam Alliance (GASA) has published the ‘State of Scams in the UK’ report, showing that one in five consumers is targeted by scammers, losing GBP 9.4 billion in total.
The study was created in partnership with Cifas and Tietoevry Banking, showing that 20% of adults in the UK were targeted and had their funds stolen by scammers, with an average of GBP 878.60 per victim.
Key findings and insights
As the holiday season is approaching, GASA, Cifas and Tietoevry Banking are urging shoppers to stay alert, as scammers often exploit the chaos of seasonal shopping to target vulnerable people through platforms with direct messaging functions. GASA mentioned that scams have become a data-driven threat to the UK's economy, and hopes that this report offers policymakers and businesses the evidence they need to act decisively, share data faster, and coordinate fraud prevention measures.
With 76% of individuals in the UK encountering scams and a third of victims reporting a mental wellbeing impact, fraud prevention becomes key to financial and mental health, according to Tietoevry Banking. While 80% of people feel confident spotting scams, professional fraudsters have evolved far beyond what most consumers are prepared for.
The report concluded that young adults and even children are increasingly being targeted. Millennials had an average of GBP 1,456.90 stolen, three times more than the losses reported by Gex X, with GBP 444.10. Additionally, 16% of UK parents with children aged between 7 and 17 mentioned that at least one of them has been a scam victim.
Purchase fraud is the most common type, according to the survey, affecting 45% of victims. Those who believed they could recognise scams had more money taken than any other group, averaging GBP 1,591.90. Despite the scale of fraud, 77% of victims reported the scam to their payment service, and 47% were able to recover at least part of their funds. 91% of the adult individuals surveyed say they take steps to verify whether an offer is genuine or not.
The report offers consumers insights on how to protect themselves, saying they should use official sites when buying goods and services, get a second opinion on any unexpected communications they receive, don’t respond with urgency, and report scams to Action Fraud. Additionally, they can forward phishing emails to report@phishing.gov.uk, spam messages to 7726, and visit the Government’s ‘Stop! Think Fraud’ website for further help.
