Fraud victims report lasting impact on mental health

A significant majority of individuals who have lost money to scams in the last two years have suffered negative consequences for their mental wellbeing and financial stability. Nearly two-thirds of these victims reported increased stress, with more than half experiencing a detrimental effect on their mental health, according to research commissioned by the consumer group Which?.

The survey, conducted by Deltapoll in June, gathered responses from over 1,500 people across the UK who had fallen victim to fraud within the preceding two years. Findings indicated that 47% of respondents also reported negative impacts on their financial situation.

Common Scam Types

Unauthorised fraud emerged as the most prevalent category of scam reported by participants. This included instances where bank account or card details were compromised, accounting for 44% of cases. Another 16% involved the loss of physical cards or devices to opportunistic thieves. Impersonation scams, where individuals were persuaded to make payments to fraudsters posing as legitimate organisations or people, constituted 35% of the reported incidents. The remaining 5% comprised other forms of fraudulent activity.

Victims described feelings of shame and embarrassment, with some admitting they had not disclosed the full extent of their financial losses to family members. One individual shared their experience of heightened nervousness and stress, which strained their marriage and led to feelings of depression, as their husband questioned their financial management abilities. Another victim stated their mental health was severely affected, leading to a sense of personal failure.

Calls for Tech Company Action

Which? is advocating for technology companies to take greater responsibility in tackling scams that occur on their platforms. Rocio Concha, Which? director of policy and advocacy, stated that the financial harm and human suffering caused by fraud are considerable, and that tech giants profiting from these scams will likely not implement sufficient measures unless legally mandated to do so. A spokesperson for Meta, which owns Facebook, acknowledged that scammers use sophisticated methods to evade detection and affirmed the company's commitment to fighting scams both on and off its platforms.

Ofcom, the UK's communications regulator, has also indicated that combating online fraud is a priority. A spokesperson informed Which? that new rules for paid-for fraudulent advertisements are being developed at pace. The regulator added that technology firms can improve user safety immediately and will face significant consequences if they fail to meet their legal obligations once the rules are in place.