Only one in 700 scams results in a fraud conviction

Convictions in England and Wales secured under the Fraud Act 2006 have slumped to their lowest level since 2007, according to Quilter, which received the data via a Freedom of Information request. In 2019, there were more than 3.7 million incidents of fraud in England and Wales, but only one in five of these cases (743,380) were reported to the National Fraud Intelligence Bureau (NFIB). Of these, just 5,234 convictions were secured under the Fraud Act 2006, amounting to one in 142 reported and one in 700 incidents overall. This compares to around one in every 32 police recorded thefts...