A new survey reveals that over a quarter of scam victims feel ashamed after being deceived, with many choosing to keep their experiences private. The study, which surveyed 2,000 individuals, found that many victims experience feelings of anger, while others are left upset and humiliated. Alarmingly, nearly half of respondents reported having money stolen within the past year, with the average loss amounting to £481.
The most common scams involve marketplace frauds with fake sales or impersonation schemes, where scammers pretend to be someone else. Among these, romance scams bear the greatest social stigma, with nearly half of respondents admitting they would feel deeply embarrassed to admit they feel for such a scheme.
In an effort to break the silence around these incidents, Wise, an international money transfer app, has teamed up with We Fight Fraud to create the ‘Scam Safe Space’. This initiative encourages candid discussions about scam encounters without fear of judgement.
Wise say they are ‘relentlessly committed to combating scams’ and say in the past year their investment in cutting-edge detection has successfully reduced fraud volumes by approximately 70%. Nevertheless, Aaron Wilson, the head of fraud prevention at Wise, cautions: “while technology can help prevent scams it also requires effective education and talking about your scam experience with family and friends is a great form of education.”
Dr Nicola Harding, a criminology PhD holder and survivor of a financially abusive marriage, is now the CEO of We Fight Fraud. After leaving her marriage at 28 she’s been encouraging people in Manchester to share their scam experiences to help others identify common warning signs.
When it comes to helping others, she said: “Prevention requires effective education. We know that even the most advanced scams tend to involve at least one of a few common red flags.
“Learn these and you’re in a much better position to protect yourself – and arguably the best way to do so is to hear others’ experiences.”
Research indicates that over a quarter of people believe hearing about scam victims’ experiences could safeguard them from similar traps. Nicola stressed the importance of breaking the silence around scams, stating that scammers thrive on their victims’ silence and shame.
She urged for a change, saying: “People need to be encouraged to talk, scam silence needs to end.”
The study also revealed that only 22% of scam victims reported the incident to the police or a fraud prevention service. A fifth (22%) felt helpless, believing no one would assist them, while an equal percentage blamed themselves for falling for the scam in the first place. However, 58% expressed a desire for stricter penalties for those found guilty of running scams.
Aaron added: “Many scams are incredibly sophisticated now, and can take in even the savviest of people – the stereotype of helpless old people being tricked out of their life savings is quite inaccurate.
“We’re calling for real change to break the silence around scam targets. Because ending scam silence is the last thing scammers want.”
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