Fraud and cyber crime victims feel anger and distress

Fraud and cyber crime can have a massive financial cost to individuals, but it’s also having a lasting psychological impact.

According to new data from the Home Office, more than half of people affected by fraud and cyber crime experienced financial loss (57%), and lost an average of £4,600.

But while the financial cost is devastating, so too are the emotional consequences.

For example, victims reported feelings including:

• anger – 86%
• stress – 73%
• anxiety – 63%
• depression – 18%
• suicidal thoughts – 3%

One victim described their experience, saying:

“Affected me a lot psychologically - couldn’t sleep well… Felt heart sinking. It was hard earned money. I should have realised. Really fed up for a while. Quite angry. Anxious.”

Another said:

“I actually fell for it. I can’t believe I did because I am not a stupid person and if I can fall for it… there must be lots of people.”

Fraud and cyber crime affects people’s relationships

As a result of falling victim to fraud and cyber crime, many people are seeing their faith in others fade.

Figures showed that victims:

• Trust others less – 48%
• Feel less safe online – 44%
• Feel less safe offline – 23%
• Have become less willing to use the internet – 29%
• Have seen damage to relationships with friends or family – 11%

Staying safe online

With so many scams around, it’s really important that you recognise the red flags and warnings signs.

Our handy guide on how to spot a scam is full of helpful tips and recommendations, along with our guide on outsmarting online scammers.

A good rule of thumb when it comes to staying safe online is to trust your instincts.

So if something seems too good to be true, it probably is. 

Always step back and think before clicking on a link or sharing any information.

By staying aware and cautious, you can protect yourself from online scams.