Question to the Home Office:

To ask the Secretary of State for the Home Department, with reference to the press notice entitled UK hosts world leaders for first Global Fraud Summit, published on 11 March 2024, if he will publish the evidential basis on which the statement was made that £3 billion was lost to overseas accounts last year as a result of fraud.

The £3 billion figure is an estimate of the UK fraud losses that either originated abroad or had an international element.

This estimate combines data on the fraud losses that was publicly available over the period of Financial Year 22/23 on the Action Fraud dashboard (the latest Action Fraud data can be found here NFIB Dashboard (Public) (arcgis.com), with the estimate that over 70% of fraud originated abroad or has an international element, which was published in the Fraud Strategy Tackling fraud and rebuilding trust (publishing.service.gov.uk)