For the most part, crime has reduced during the Covid-19 pandemic. In contrast, however, cases of fraud and cybercrime have dramatically increased, according to the Office for National Statistics (ONS) data for England and Wales: year ending December 2021.
There was a 54 per cent increase in fraud and computer misuse offences compared to pre-pandemic levels, with fraud along experiencing a 41 per cent increase.
Consumers' behavioural changes resulting from the pandemic such as increased online shopping has clearly been picked up by fraudsters, with cases of 'advance fee fraud' and 'consumer and retail fraud' becoming more common.
This makes it vital to increase awareness to individuals and businesses about the scale of fraud. Simply put, everyone can be affected by fraud whether directly or indirectly. It's not just financial harm that can arise from being a victim of fraud, either. There can also be a significant psychological impact.
'Phishing' along with 'smishing' and 'vishing' remain key methods of attack from fraudsters. Individual responsibility therefore plays a part in detecting fraud, highlighting the importance of common-sense and attention to detail; although, this can be easier said than done when fraudsters are becoming more and more savvy- they can even ring unsuspecting victims from what outwardly appear to be entirely legitimate numbers now (i.e. if you googled the contact number of the fraudulent caller, it would show up as coming from a legitimate source).
The problem is much wider than individuals. Fraud is a wildfire which needs strong collaboration from all sectors to dampen.
Among others, the legal sector is a prime target for fraud, as law firms tend to handle highly sensitive information and vast sums of money.
ACSO is currently carrying out research into the developing nature and implications of fraud, and will be seeking input from relevant stakeholders to formulate a report in due course.
Author: Jack Normington, Trainee Solicitor at Fletchers Solicitors and ACSO secondee.