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These figures are separate from the headline estimate that another 6.3 million crimes (distinct from frauds) were perpetrated in the UK against adults in the year to March 2016.

Fraud is apparently low on the list UK law enforcement priorities.

In July 2016 the BBC referred to a recently published CIFAS report which estimated the annual cost of fraud in the UK was £193bn - equal to nearly £3,000 per head of population.

A CIFAS study found that the number of reported cases of identity fraud jumped by 57 per cent between 20.

High value frauds can also include additional penalties. government's 2006 fraud review concluded that fraud is a significantly under-reported crime, and while various agencies and organizations were attempting to tackle the issue, greater co-operation was needed to achieve a real impact in the public sector.

In common law jurisdictions, as a criminal offence, fraud takes many different forms, some general (e.g., theft by false pretense) and some specific to particular categories of victims or misconduct (e.g., bank fraud, insurance fraud, forgery). The requisite elements of perhaps most general form of criminal fraud, theft by false pretense, are the intentional deception of a victim by false representation or pretense with the intent of persuading the victim to part with property and with the victim parting with property in reliance on the representation or pretense and with the perpetrator intending to keep the property from the victim. (1) Every one who, by deceit, falsehood or other fraudulent means, whether or not it is a false pretence within the meaning of this Act, defrauds the public or any person, whether ascertained or not, of any property, money or valuable security or any service, (a) is guilty of an indictable offence and liable to a term of imprisonment not exceeding fourteen years, where the subject-matter of the offence is a testamentary instrument or the value of the subject-matter of the offence exceeds five thousand dollars; or In addition to the penalties outlined above, the court can also issue a prohibition order under s. The study suggests the UK loses over £190 billion per year to fraud.

380.2 (preventing a person from "seeking, obtaining or continuing any employment, or becoming or being a volunteer in any capacity, that involves having authority over the real property, money or valuable security of another person"). £190 billion is more than 9% of the UK’s projected GDP for 2017 (,496 (£2,080) billion according to Statistics Times).

The Serious Fraud Office (United Kingdom) is an arm of the Government of the United Kingdom, accountable to the Attorney-General.

The National Fraud Authority (NFA) is the government agency co-ordinating the counter-fraud response in the UK.

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