Only one in 700 scams results in a fraud conviction

Convictions have slumped to their lowest level since 2007

Pedro Gonçalves
clock • 2 min read

Fraud convictions have fallen by 10% on average year-on-year since 2011 with just one in 700 incidents of fraud leading to a conviction in 2019, according to Ministry of Justice figures obtained by Quilter.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Hampshire IFA charged by FCA over £2.3m fraud

Hampshire IFA charged by FCA over £2.3m fraud

Lisa Campbell charged with multiple criminal offences

Isabel Baxter
clock 13 February 2025 • 1 min read
Five vulnerability questions advisers must ask themselves

Five vulnerability questions advisers must ask themselves

'Identification. Action. Reporting – don't delay'

Jonathan Barrett
clock 12 February 2025 • 5 min read
MPs press FCA and FOS for answers on ombudsman CEO's 'sudden' departure

MPs press FCA and FOS for answers on ombudsman CEO's 'sudden' departure

Treasury Committee written to chairs of FCA and FOS about Abby Thomas’ exit

Jenna Brown
clock 11 February 2025 • 2 min read