With fraudsters being ever more savvy in their schemes the estimated cost of fraud continues to escalate.
I have found many instances where victims are creditors in a fraudulent bankruptcy or liquidation and they do not want to lodge a claim or be acknowledged as having been scammed. This can be anything from embarrassment to not wanting a partner/loved one to find out. I can only assume the scale of fraud must be grossly underestimated for these very reasons. We need to shame the fraudsters and not the victims.
The largest fraud carried out against individuals was identity fraud, estimated at £5.4bn a year from about 3.25 million victims.