A study from UK Finance found that criminals stole £629.3 million (roughly $826 million) during the first half of the year, a 3% year-over-year increase.
What’s more, there were over 2 million reported fraud cases through Q2 2025, a 17% rise from the previous year, with the average scam costing victims £300 ($394).
Most of these cases originated online, and social media is playing a role. The study found that purchase scams—where consumers are manipulated into paying for fake products or services—were the most common, with many stemming from social media posts.
Investment scams were the next most frequent and often the costliest type of fraud in the UK. Romance scams also remained prevalent, with victims losing an average of £6,500 ($8,547) to criminals who preyed on their emotions.
The Most Prevalent Form
The continued rise in fraud in the UK mirrors a broader global trend. Consumers are being flooded with fraudulent emails, phone calls, texts, and messages—many of which are difficult to distinguish from legitimate communications.
These scams peaked during the pandemic, when most shopping and messaging moved online. However, even as consumers return to physical stores, scams remain a persistent threat, now surpassing traditional identity fraud to become the most prevalent form of fraud.
An Effective Combination
Criminals are increasingly relying on social engineering tactics to manipulate their victims. High-pressure communications, coupled with realistic-looking messages, can be especially effective combination when targeting vulnerable populations like children or the elderly.
Worryingly, many victims who are tricked into sending payments aren’t reimbursed, even when they use legitimate channels.
UK Finance found that 98% of victims whose credentials were stolen were reimbursed by their banks. In contrast, when consumers are tricked into sending a payment—such as in authorized push payment (APP) fraud—only about 62% are refunded.
This is a growing global problem. According to LSEG Risk Intelligence, worldwide APP fraud losses could reach $331 billion by 2027.
