UK consumers losing £3.5 billion to scams each year
Research published by the OFT today has
revealed that UK consumers lose around £3.5billion to scams every
year.
The survey, involving over 11,200 interviews,
found that nearly half of the UK adult population has been targeted
by a scam and that every year one in 15 people (3.2 million adults)
in the UK fall victim to a scam involving deceptive
unsolicited mailings, phone calls, or emails. The average
amount lost per scam was £850.
The research suggests that consumers lose
around £1.2 billion every year to bogus holiday clubs, £490 million
to high-risk investment scams, £420 million to pyramid and
get-rich-quick schemes, and £260 million to fake foreign lotteries.
On average a victim has a 30 per cent chance of falling for another
scam within 12 months of first being caught out, most likely
because their personal details are added to a so-called 'suckers
list', which are then sold on to other scammers.
Whilst older consumers were more likely to be
targeted by a scam, the highest percentage of victims were aged
between 35-44 years. Of those who fell for the scams, 32 per cent
said it was because of the legitimate and professional appearance
of the marketing, 30 per cent said they were caught off guard, and
13 per cent because of the excitement at the prospect of getting a
good deal or winning a prize.
In addition, the research showed that less
than five per cent of those scammed reported their experience to
the authorities, and more than half of victims have since changed
their shopping behaviour, for example by becoming less likely to
respond to any unsolicited offers or shop on the internet.
For further information download a copy
of the report from http://www.oft.gov.uk/