AFI 2023 headline figures
The 2023 AFI highlights the colossal cost of fraud to the UK economy.
£219 billion
Annual UK fraud losses could be
£157.8 billion
Private sector fraud losses estimated to be
£50.2 billion
Public sector fraud losses estimated to be
£8.3 billion
Frauds committed directly against individuals is estimated at around
TIM ROBINSON
cROWE
“Research shows that detected or reported examples of fraud do not represent the total cost of fraud, because much remains undetected. I recommend the information in this report to anyone who is interested in the real extent of a problem, which has been shown to cost the UK a staggering £219 billion each year.”
Jonathan Tickner
Peters & Peters
“As a law firm specialising in civil and criminal fraud cases, Peters & Peters are proud to be associated with the detailed analysis and project, which provides policy makers and practitioners alike with vital insight into the scale of fraud befalling the UK. The AFI makes a vital contribution to public debate.”
Mark Button
University of Portsmouth
“The 2023 AFI highlights the colossal cost of fraud to the UK economy once again. At £219 billion, it would represent more than the UK government spends on healthcare and a third more than is spent on education and defence. This report will hopefully stimulate more action by government, law enforcement, organisations and individuals.”
Highlights include:
Expert views
The report’s methodology estimates the cost of fraud in each sector and sub-sector and categorises those estimates by confidence as gold, silver or bronze.
Overview and analysis
3.8%
Individuals
22.9%
Public sector
72%
Private sector
How the total cost of fraud has risen from an estimated £190 billion in 2017 to almost £219 billion.
This report covers
Individuals
AFI 2023 headline figures
Expert views
Overview and analysis
Frauds against individuals
Public sector fraud
Private sector fraud
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UK fraud by key sectors
