Most children and young people have been targets for fraud, and three in ten have been a victim of fraud – most commonly advance fee fraud, banking and credit fraud, financial investment fraud, cyber fraud, and identity theft and fraud. That’s according to a study by the think tank Crest Advisory.
According to the study, being defrauded has ‘significant emotional impact’ and can lead to change in online activity, whether being more cautious online with emails, websites and privacy settings to stopping a particular online activity altogether, such as online shopping or banking. An 85-page report calls for the new Action Fraud (due to be called Report Fraud, as featured in the May edition of Professional Security Magazine) to include a dedicated “hub” for children and young people (defined as under-21s), and create a child-friendly website; and calls on UK Government to design a national campaign specifically about fraud against the young.
The report authors concluded that fraud has become a near universal part of young people’s everyday life, such as after opening their first bank account or getting their first job, or getting a lump sum of money, such as from the 16 to 19 Bursary Fund.
Platforms
Although the platforms Instagram, Facebook and TikTok are not where the young spend most of their time online, those three were where the young were more likely to experience fraud, the study stated.
City of London Police Supt Amanda Wolf said: “We must do more to support young people and raise awareness, so they feel confident in recognising and reporting when they may be victims of fraud.
“The report reveals a concerning reality: 88 per cent of individuals aged 13 to 21 were targeted by fraud in the last year. These statistics highlight how common fraudulent approaches have become for this age group despite us also knowing that fraud is significantly under-reported, especially among children and young people. In a world increasingly lived online and shaped by digital interactions, fraud criminals are exploiting the personal information young people comfortably and readily share online.
“As the national lead for fraud, we are constantly seeking ways to identify emerging threats, helping us to better protect people whilst disrupting criminals and improving our investigative capabilities. This report reflects our commitment to working with partners to better understand the evolving tactics of fraud criminals and to highlight the work that is needed to develop more effective protection and awareness amongst our young people.
“This report will serve as a foundation for our continued efforts to educate, raise awareness, and ultimately protect children and young people from fraud. Our commitment is clear, working with partners across sectors to prevent fraud. Protecting young people is essential to bring perpetrators to justice and safeguard the next generation from these crimes.”
The study was paid for by the Police STAR Fund and the Dawes Trust; visit https://www.crestadvisory.com/post/understanding-and-addressing-fraud-against-children-and-young-people-an-action-plan.
