HomesecurityThe British have lost more than £ 1 billion in fraud during ...

The British have lost over £ 1 billion in fraud in 2021

According to one a recent report of, on cybercrime, the British have lost more than 1 2021 billion in the first six months of XNUMX, from scams and cyber attacks.

2021 scams

The report revealed that 81.018 police reports of fraud were issued and crimes in cyberspace in the second quarter of 2021, with UK residents facing £ 382,3 million in losses. In the first quarter of 2021, the number of police reports reached 137.695. According to the report, The decrease in the second quarter is due to the easing of restrictive measures and the lockdown. With the relaxation of the measures, there was relative reduction in internet activities, since people could go out.

See also: Mobile attacks continue to increase after the pandemic

However, the financial losses per victim were higher (by 176 £) in the second quarter compared to the first (reaching 4719.).

The most common scams and cyberattacks in the second quarter of 2021 were related to online shopping and auctions. The victims lost a total of £ 11,9 million from these types of attacks.

The number of reports was reduced by half, compared to the first quarter, which could be due to the opening of stores. With the opening of commerce, online shopping has declined and so have related scams. However, average casualties per victim were 29% higher in the second quarter of the year (£ 800 vs. £ 618).

According to the report, crimes related to financial investments and share sales proved to be the most costly for the victims. A total of 1309 victims lost £ 35,8 million of these scams during this period (£ 26.585 per person).

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The victims of dating scams they also suffered heavy losses, averaging £ 13.558 per victim.

Regarding the age of the victims, most vulnerable to cyber attacks and fraud were Britons aged 30-39 (13.172 reports and losses of £ 37 million).

British scams

Britons aged 70 and over were more likely to fall victim to malware. This population lost £ 34,2 million to these crimes in the second quarter.

See also: Ransomware teams use virtual machines to "cover up" their attacks

Ο James Andrews, a finance expert at, said: “The British have lost more than 1 billion pounds from fraud and cybercrime in 2021, which shows how fraudsters managed to take advantage of online shopping, during the lockdown".

"However, it is encouraging to see that incidents have dropped significantly in the second quarter of the year as life has begun to return to normal. However, the loss of millions of pounds shows that it is vital for people to know what they need to do to protect themselves from fraudsters.", He added.

Source: Infosecurity Magazine

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