Brits lost over £252 million across retail and banking fraud with over 122,000 incidents in the last year

RETAIL and banking fraud has cost UK consumers £252.8 million in the last year, with an average loss of £1,307 per victim. That’s according to new data obtained by Confused.com through a Freedom of Information (FOI) request to Action Fraud. From stolen bank details to fake tickets, the data shows scammers are using a mix of high-volume and high-value tactics to part consumers from their cash.

The data found that Cheque, Plastic Card and Online Bank Accounts was the most commonly reported fraud offence overall between March 2025 and March 2026, with more than 122,338 incidents recorded. This type of fraud involves criminals using stolen cards or account details to make unauthorised purchases, withdrawals or transfers.

Retail and Banking Fraud reported between March 2025 – 2026:

Mandate fraud had the highest average loss, at £14,280 per victim. This is where criminals pretend to be a trusted organisation and get people to change payment details for a direct debit, standing order or bank transfer. While less common than card and online banking fraud, it has still cost Brits more than £35million in the last year.

Ticket fraud is often used to target people trying to buy seats for concerts, sporting events and festivals, with fake or non-existent tickets sold to buyers. And this has equated to almost 11,000 victim reports, and nearly £11 million lost. Meanwhile, advance fee fraud was the least reported retail and banking offence. However, with an average loss per case of £5,765 it has cost victims almost £11 million over the last year. This offence involves victims being asked to pay upfront for goods, services, or opportunities that never arrived or never existed in the first place.

The figures also reveal who fraudsters are targeting the most. Retail and banking fraud was most commonly reported by people in their working years, with those aged between 20 and 59 accounting for around 75% of all age-based reports. Reports peaked among people aged 30 to 39, with 22,200 cases recorded, suggesting many fraudsters may be targeting those most likely to shop online, manage multiple accounts and make frequent digital payments.

Regionally, the Metropolitan Police Service recorded the highest volume of cases, with 16,500 reports in the last year.

Top 10 UK Police Constabularies with the most reported cases:

According to a survey of 2,000 UK adults, almost 1 in 3 (31%) have been the victim of debit or credit card fraud. Based on UK population estimates, this is equivalent to around 13 million adults aged 18 to 64. On average, victims said almost £300 was stolen before the fraud was stopped.

Many victims only discovered the fraud after money had already left their account. Nearly 2 in 5 (38%) said they first noticed suspicious spending when manually checking their bank statement or transaction history, often too late to stop the money leaving their account. This compares with almost 1 in 5 (18%) who were alerted by a text or email from their bank. Just under 1 in 10 (9%) spotted fraudulent activity within minutes, showing how significant damage can be caused in just a few minutes.

Losing money remains the biggest concern. More than half (53%) said this would be their main worry if they became a victim of card fraud. But there is some reassurance for victims, with over half (65%) saying they were able to recover all of the money stolen, and almost 1 in 5 (19%) recovered at least some of it. Concerns also extend beyond personal finances, as almost 1 in 3 (31%) said they worry about vulnerable family members or friends becoming victims of scams or fraud. 

There is also strong demand for better protection. Almost half (46%) said they would accept extra security steps if it reduced the risk of fraud, while more than 2 in 5 (43%) said they hesitate before saving card details on websites or apps. Almost 2 in 5 (39%) said they now check their bank statements more often because of fraud risks, while more than 1 in 3 (35%) believe better financial education would help people recognise and respond to card fraud sooner.

With fraud affecting consumers of all ages, and many only spotting suspicious activity through their own checks, it seems personal vigilance remains key. Encouraging regular account monitoring, stronger security tools and better consumer awareness could help reduce the impact of card fraud.

Nicola Morgan, consumer finance expert at Confused.com, commented: “Card and banking fraud can happen quickly and often without victims realising until it’s too late, which is why staying alert to unusual activity is so important.

There are a number of simple steps people can take to reduce the risk of being targeted:

• Check your bank statements regularly so you can spot any unusual or unexpected payments early. Criminals often test stolen details with small purchases first.
• Shop only with trusted retailers online and make sure websites are secure before entering payment details.
• Use strong passwords and two-factor authentication to make it harder for criminals to access your accounts.
• Avoid saving card details on accounts or websites you do not use regularly.
• Be cautious of unexpected calls, texts or emails asking for payment or account information.

Nicola added: “If your card is lost, stolen or used fraudulently, contact your bank straight away so they can freeze or cancel the card and investigate any transactions.

“You should also change any linked passwords, monitor your accounts closely and report the incident to Action Fraud. Acting quickly can help limit financial losses and reduce the risk of further fraud.”

Aaron recently became the victim of an aggressive fraud attack after fraudsters gained control of his personal mobile, email address and WhatsApp account, giving them access to sensitive information stored on his phone, including his banking and card accounts. 

Aaron said: “I have never felt so helpless before. They took over my SIM, my email and my WhatsApp, and suddenly I couldn’t even make a phone call to the police without relying on family members.

“At the same time, they were maxing out my credit and debit cards. It was overwhelming.”

Aaron described the experience as emotionally draining, particularly as he worked to regain access to his accounts and stop further fraudulent activity. Thankfully, fraud teams at his bank were able to begin cancelling some of the unauthorised payments while his family helped contact providers and secure affected accounts.

He explained: “One of the biggest lessons I learned is how important passwords and account security really are

“People should regularly update their passwords, enable two-step authentication, use an authenticator app and have a separate backup email account.

“It may seem inconvenient, but those extra layers of protection can make all the difference when someone tries to access your accounts.”