Britons were forced to shift their priorities over the last couple of years, as the pandemic led to businesses, consumers and criminals to focus on the online world more than ever. As coronavirus sped up the shift to an all-encompassing online world, a huge increase in cybercrime was seen.
Criminals take advantage of higher online activity
Action Fraud, Cifas, and UK Finance collectively received 822,276 fraud reports in 2019-20. Of which, 698,934 (85 percent) were online based scams.
The National Crime Agency also stated that, roughly, just 20 percent of scams are reported which highlighted the UK could be looking at a total figure of around 3,494,670 cases of cybercrime every year. In monetary terms, there was a £2.3billion reported loss, which means a possible total figure of around £11.5billion in just one year.
Based on growing trends and statistics, Holly Andrews, Managing Director at KIS Finance, predicted what the biggest online scams of 2022…