UK Suffers £1.3bn in Losses to Fraud and Cybercrime this Year

News and information from the Advent IM team.

Newly published data collated by the National Fraud Intelligence Bureau shows a huge spike in fraud and cybercrime so far in 2021.

The UK has seen a three-fold increase in financial losses incurred from fraud and cybercrimes in the first six months of 2021.

In total, £1.3bn has been lost to these kinds of crimes, a stark increase compared to the figure of £414.7m from last year. Cybercrimes, in particular, saw a seven-fold rise, going from 39,160 to 289,437.

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