Hertfordshire scam victims report 5,278 frauds with losses of £34 million in 2024

Hertfordshire residents reported 5,278 incidents of fraud last year with losses totalling £34 million.

The allegations to Action Fraud in 2024 were down from 5,705 in 2023, but the sums involved were up £3m.

There were also 774 allegations of cybercrime last year – more than double the 374 in the year before.

Fraudsters often try to scam potential victims by persuading them to withdraw large sums of cash from their local bank branch and hand it over to them. This type of scam targets the most vulnerable in society, including the elderly, who are particularly at risk.

Det Insp Katy Jackson, from Hertfordshire Constabulary’s serious fraud and cyber unit, said: “Fewer fraud reports were recorded last year but the amounts taken have increased, indicating that fraudsters are carefully selecting potential victims that are more likely to fall prey to their activities.

“The best defence against fraud is to keep up with the latest scams and prevention advice. Understanding how the fraudsters work is key to avoiding their schemes.”

More than £2 million in fraud was prevented in 2024 thanks to an agreement between police and financial institutions, called the Banking Protocol.

It adds an extra safeguard to help prevent people, especially those who are vulnerable, from being scammed, with banks contacting police when requests are made to withdraw large sums of cash from accounts.

Courier fraud reports were down 20% but losses rose by 23%; dating fraud reduced 10% and losses remained the same; investment fraud was down 9% but losses were up 55%; mandate fraud saw a 19% reduction and losses reduced by 55%; rogue trading had a 6% increase and losses increased by 65%.

Police warn it is likely that new types of fraud will emerge, especially as more criminals seek to exploit artificial intelligence (AI). Recent examples of scams using AI include those employing deepfake videos and images of celebrities.