Brits lost millions in investment fraud last year as scammers raked in £1,675 every minute, data shows.
Figures from the City of London Police, the National Lead Force for Fraud, revealed that £879.8 million was stolen through investment fraud last year, equating to around £2.4 million every single day.
There was a 31 per cent rise in reports of investment fraud last year compared to 2024, which the City of London Police said was because fraudsters were “taking advantage of economic uncertainty, volatile markets and increasingly convincing online platforms to lure in victims”.
The rise in reporting is also linked to when victims realise they have been scammed.
Police said: “Reports began climbing steadily from March and spiked in July and September when many people review their investments, move money into new products or check their returns ahead of the new financial year.”
In another startling sum, the average loss was £25,612 per person and often represented pension savings and long-term investments.
“Investment fraud continues to have a devastating impact on victims, many of whom lose life‑changing amounts of money. Criminals are using professional‑looking websites, persuasive sales tactics and even cloned branding from real financial firms to appear legitimate,” Detective Superintendent Oliver Little, from the Lead Force Operations Room at the City of London Police, said.
“We’re urging the public to take their time, carry out proper checks and get independent financial advice before parting with any money.”
Older adults, particularly those over 60, were the most likely to come forward “because they are more likely to have significant savings or pension pots invested”, police said.
People should be wary of AI-generated scams, deepfakes and cloned websites.
Officers also warned of ‘finfluencers’ on social media, who are typically young males who boast about making easy money on trading platforms that are high-risk, such as rapid-turnover investments and forex.
“Their content often glamorises quick wins, luxury lifestyles and aggressive self‑improvement narratives, themes recently explored in Louis Theroux’s documentary on the online ‘manosphere’,” police said. “While not all of these personalities are involved in criminal activity, their posts can create a false sense of legitimacy around speculative trading and make inexperienced followers more vulnerable to opportunistic scammers who mimic the same language, style and promises.”
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