Scams: the heavy financial and health burden

According to recent research, the total amount of money it costs a fraudster’s victim to get help with their wellbeing after being scammed is £9.3 billion a year. 

This unwanted financial burden is equivalent to £2,509 per annum for each victim. However, the total monetary impact can be much higher for those who experience online scams.

A typical financial hit to an individual is around £600, reveals the research.

With this high price to pay, many victims of fraudsters spoke about their wellbeing aftermath, which led to suffering from anxiety and even physical ill-health.

The research, which included 17,000 responses to an Office for National Statistics Crime Survey, suggested “scam victims faced a drop in life satisfaction, significantly higher levels of anxiety, and lower levels of happiness. It was also associated with people self-reporting worse general health, although to a much smaller degree.”

How can I protect myself?

If you receive, for example, a phone call from your bank, the police, a Government department, or another trusted source requesting personal or banking details, do not assume it is genuine.

Give yourself time to check the organisation’s phone number by looking at a bill, letter, bank statement or calling the organisation using the details you are familiar with to check whether what you have been told is genuine.

If you are concerned about a suspicious phone call, report this activity to HMRC via email:, or text 60599.

For assistance or more information on related issues, please contact our team today. 

Get in touch

Get in Touch

If you would like to see full details of our data practices please visit our Privacy Notice.