Cost of fraud for victims '£9.1bn over past year'

The total amount of money fraudsters made out of their victims came to £9.1billion between 2012 and 2013, according to the Sentencing Council.

They also found that victims were targeted in multiple ways:

  • As part of Ponzi schemes
  • At cashpoints
  • By cowboy builders
  • Via identify fraud
  • Online phishing schemes
  • Fake online ticket sites
  • Dating sites

In total:

  • Businesses were defrauded of £2.1 billion
  • The public lost £20.6 million
  • Faud against the not-for-profit sector cost charities £147 million in the same period.

Read: Tougher sentences for fraudsters after 'the vulnerable'

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Tougher sentences urged for fraudsters who target vulnerable

Tougher prison sentences could be brought in for those who swindle money out of vulnerable victims, like the elderly, the Sentencing Council has said. They want victims placed at the centre of new guidelines for fraud, money laundering and bribery.