Personal loan provider Fluro has researched the areas of the UK where fraud is most prevalent, which types of fraud cost consumers and businesses the most, which types are most commonly reported, and the difference in reporting figures YoY. The team at Fluro have also shared their tips on what to look out for to avoid becoming a victim of fraud.

London Metropolitan police force received more fraud reports than police in any other part of the UK

Over the past 12 months 52,054 fraud cases were reported to London Metropolitan police force, costing consumers in Greater London (excluding City of London) a total of £450.5 million. Surrey follows next as the second largest fraud hotspot in the UK with 6,456 reported cases amounting to a total loss of around £40.5 million. Thames Valley ranks third with reports over a 12 month period totalling 12,246 for a total loss of ​​£77.5 million.

The table below shows the UK’s top five fraud hotspots:

Financial investment schemes is the top type of fraud responsible for the biggest cash loss, totalling £337.9 million in 2022

In just one year there were 14,847 reports of fraud relating to financial investment schemes, through which the public lost a total of £337.9 million. Pyramid and Ponzi schemes are the second most costly type of fraud on a nationwide scale, with 3,740 cases leading to a total loss of £250.4 million. Share sales and boiler room fraud round off the top three most expensive types of fraud, with losses totalling 146.7 million.