PSNI Reports Annual Fraud Losses of £19 Million in Northern Ireland

The Police Service of Northern Ireland (PSNI) has issued its annual fraud report, revealing that over the 12 months from November 1, 2023, to October 31, 2024, more than 5,200 fraud reports were received, with total reported victim losses nearing £19 million.

The report highlights a diverse range of scams that have resulted in financial losses, from hundreds of pounds in ticket scams to hundreds of thousands of pounds in impersonation and investment scams. These scams were committed remotely, with criminals using phones, social media, emails, and text messages.

Among the fraud examples in the past year include: a bank impersonation scam where a person was called by someone claiming to be from the victim’s bank telling about suspicious activity on the account and asking to transfer money into different accounts for safety. The total amount involved exceeded £100,000; an online romance scam resulted in a victim transferring more than £50,000, allegedly to help with a business opportunity; an investment scam resulted in hundreds of thousands of pounds lost, where the victim believed they were part of a genuine online business opportunity, only to discover it was a scam.

"Scams are presented in so many different ways and, with advances in technology, they can appear genuine and as if they’re legitimate," said PSNI Superintendent Joanne Gibson. "In terms of the investment scams we've seen reported, often these may seem like a good way to boost savings, however, they are often high-risk investments with limited regulation or safeguards."

Gibson added, "While a variety of approaches are used, some of them extremely sophisticated, the end goal for criminals never changes and that’s to access personal and financial details which are used to commit a more sophisticated scam where the losses can be substantial as we’ve seen from the total losses reported in the last year. He advises taking a moment to stop and check whenever contact is made, which can make a difference.

PSNI’s Recommendations: Stop, Check, and Report

• Stop before you transfer money or disclose any personal details to anyone you do not know. Do not feel rushed or pressured by timelines - genuine callers will always give you time to consider your options.
• Check and verify who you are communicating with using a trusted source. Take time to verify callers on another phone line where possible and check images via an image search. If you are in any doubt do not transfer any money or goods.
• If you have been a victim of a scam, report it to the police and to your bank immediately.