The financial impact of this is huge, with the average amount stolen reaching £893.34 per scam, which was found when 1,500 victims questioned.
Interestingly, those who hadn’t been defrauded said they would only report online fraud if it was £112 or more. Whereas, for those who had experienced fraud, the number jumped to £235.15 showing that we’re less inclined to come forward, when it actually happens to us.
In the Barclays survey victims of fraud reported feeling stupid (31 pr cent), victimised (23 per cent), helpless (13 per cent) and gullible (12 per cent). As a result, the effect online fraud has on a victim’s life is profound as over half (52 per cent) kept it a secret from their friends and family. Furthermore, a quarter (25 per cent) didn’t confide in their partner and five per cent actually ended up splitting up, following the scam. For those who did talk about the crime, one in 10 felt judged by friends and family.
In fact, a quarter of people feel that losing money to a fraudster would be more embarrassing than doing a live performance on stage, being priced on by a comedian or being stuff up on a date. Victims would also rather walk around with their skirt tucked in their underwear or make a mistake in front of the boss than tell someone about their terrible experiences.
To help tackle this stigma and to reassure people that being a victim of fraud is not embarrassing, Barclays is launching its Embarrassing Fraud Clinic.
Visiting three cities London, Manchester and Glasgow, the clinics will provide the public with free access to a wealth of information and knowledge. Expert advice and support will be given by Jenny Radcliff, a “people hacker” and Julie Clegg, former policewoman and expert on Channel 4’s TV show ‘Hunted’ – alongside a Barclays Digital Eagle. A ‘digital health check’ will also be on offer with personalised advice on protecting against potential cyber threats.
Ashok Vaswani, CEO Barclays UK said: “We want to encourage people to talk more openly about scams, so that we can work together to lift the stigma of fraud. If people are too embarrassed to even tell their friends and family, then how can we expect them to report it to their banks?”
People Hacker, Jenny Radcliffe said: “Falling for scams is very common, and if you are a victim you shouldn’t feel ashamed, or even guilty, because it can happen to anyone, and you are not alone.
“Fraudsters target people from all walks of life as potential victims, and whilst it seems very personal when it happens to you, criminals are generally working through long lists of emails and phone numbers looking to catch someone, anyone, out.
“Awareness is key, and the more people understand about cons and scams the more likely they are to notice something suspicious or question a fraudster, and help to protect themselves.
“I’m delighted to be supporting the Barclays Embarrassing Fraud Clinic, where I’ll be on hand to offer advice on how best to avoid fraud, and to help give people the confidence to report it should they fall victim.”
The Embarrassing Fraud Clinic will be putting on a number of public seminars hosted by Barclays own cyber experts, known as the Digital Eagles. These seminars will offer information on the most common types of fraud and scams, as well as tips on how to protect against them.