A new £152 million service replacing Action Fraud will “stop, block and catch” more fraudsters, a police leader said on Friday.
MPs described the current reporting system as “unfit for purpose” and called for it to be scrapped after consumers were failed by inaction.
Earlier this week, it emerged more than £1 million could already have been lost to criminals on social media pretending to offer tickets for US singer Taylor Swift’s sold-out summer concerts at Wembley Stadium.
Square Mile policing chief James Thomson vowed the replacement fraud and cybercrime service going live within weeks would be able to “streamline victim reporting” and “empower swift police intervention”.
City of London Police, the national lead for tackling scammers, appointed suppliers Capita and PwC to provide a new website to replace much-maligned Action Fraud.
The Public Accounts Committee concluded Britain is a “haven” for fraudsters with less than one per cent of reported cases resulting in charges.
Mr Thomson, chair of the City’s Police Authority Board, said: “Fraud is now the most common crime in the country making up for over 40 per cent of all offences, ruining lives and costing the economy £4.3 billion a year.
“This new system will boost the UK’s ability to tackle economic crime and stop scammers from exploiting people.
“It will deliver a first-class service with better intelligence and victim care, helping to protect communities right across the UK.”
The new site aims to speed up the time it takes to report offences, keep victims informed of progress and quickly close fraudulent websites and bank accounts.
Setting out other measures in his policing plan, former special constable Mr Thomson said the force will tackle violence against women and girls, and focus on “being trusted by communities to deliver policing with professionalism, integrity and compassion and putting victims at the heart of the service”.
