People more worried about being victims of online fraud than other crimes, survey finds

The poll – for criminal justice experts at Crest Advisory – found that young people were the group most likely to be affected by online fraud, even though half of those questioned believed the elderly were most at risk.

The research, funded by the Dawes Trust, was based on a nationally representative sample of more than 3,672 adults across England and Wales as part of a survey conducted by data organisation WALR.

The vast majority of those polled, 92 per cent, said online fraud was a significant problem in the UK. When asked what crimes they were most worried about, 56 per cent said online fraud, 43 per cent burglary and 45 per cent knife crime.

More than a fifth (22 per cent) of those surveyed had been victims of online fraud, with most commonly aged between 18 to 24 (27 per cent).

Crest Advisory strategy and insight manager Amber Evans, the report’s author, said: “With this research, we set out to establish a more comprehensive and meaningful understanding of the nature of online fraud, providing a basis for more targeted measures to protect people against the harms of online fraud.

“Our findings contrast with the widely held perception that online fraud is a victimless crime, more often targeted at the elderly. We found, instead, that online fraud is affecting people of all ages and can have a clear emotional and psychological impact on victims.”

“Over one fifth of those surveyed said they had been a victim of online fraud – which is higher than the latest Crime Survey of England and Wales figures. This survey suggests that fraud victimisation may be more prevalent, and the impact more significant, than the existing data suggests.”

The research also highlighted the emotional impact of being an online fraud victim. Of those who had been victims of online fraud:

• 20 per cent said their physical health had suffered;
• 33 per cent reported a psychological impact;
• 43 per cent were affected financially; and
• 47 per cent experienced an emotional impact, including feeling embarrassed, angry or ashamed.

Almost three-quarters of those whose mental wellbeing was affected by online fraud said they had experienced anxiety, with more than a third suffering from depression or sleep problems.

The survey also indicates a lack of awareness about reporting allegations of online fraud, with only 29 per cent knowing how to go about it. Victims were more likely to contact their bank (41 per cent) than to go to the police (32 per cent) or Action Fraud (29  per cent), the UK’s national fraud reporting centre.

The research also included the first ever survey into businesses about online fraud. The polling, conducted by WALR, surveyed 800 small to medium businesses (SMEs) online, weighted to ensure a representative sample across England and Wales.

Crest Advisory found:

• 44 per cent were concerned about online fraud, followed by 39 per cent concerned about theft and burglary;
• Companies generating more than £5 million in revenue showed a higher level of concern about online fraud (56 per cent) compared with those with revenue under £50,000 (36 per cent);
• One third of the sample had been victims of online fraud. Smaller businesses were more likely to be a victim.

Crest Advisory plans to release a final and “more extensive victims report”, including an evidence review and qualitative and qualitative research, next year.