A government alert concerning insider fraud threats for charities notes that that over 50% of organisations have suffered an attack in the previous year.
The key enabling factors for fraud are:
- poor challenge and oversight
- no internal controls or, where controls did exist, not applying them consistently
- too much trust and responsibility placed in one person
Over three months from April to June 2018 the ONS received 130,519 reports from the public and businesses in England and Wales who said they had been a victim of fraud or cybercrime. However, they note “that there are severe levels of underreporting”.
Extrapolated over 10 years, 8.9% of the population would be a victim, although some people would no doubt be a victim more than once, so somewhat less than 8.9% of people would be a victim that had not been a victim before. This is a slight increase on the figure obtained from the six months from April to September 2016 and explicitly includes businesses as victims this time.
They also note that people more likely to fall victim to fraud or cyber offences than any other crime.
These calculations used the Office for National Statistics estimate for the mid-2017 population of England & Wales of 58,744,595.
Action Fraud reported 259,292 cases of fraud and cybercrime were recorded by the 43 police forces in England and Wales for the six months from April to September 2016.
That equated to 0.44% of the population in that six months. Extrapolated over 10 years, 8.8% of the population would be a victim, although some people would no doubt be a victim more than once, so somewhat less than 8.8% of people would be a victim that had not been a victim before.
Of those cases of fraud and cybercrime recorded, 12.2% were considered to have viable lines of enquiry but only 1.1% ended in judicial outcomes – some of which would be acquittal. This is not a strong disincentive, so the chances are that fraud and cybercrime will increase.
The top three kinds of frauds were: 107,515 card & online payment fraud; 47,576 credit application fraud; 21,985 fraud against telecom providers.
These calculations used the Office for National Statistics estimate for the mid-2016 population of England & Wales of 58,381,200.