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The UK Government has launched a major new Fraud Strategy, unveiled at Guildhall in the heart of the City of London — and if you live, work, or bank in the capital, it affects you directly. With fraud now the most commonly experienced crime in England and Wales, accounting for billions of pounds in losses each year and causing devastating harm to victims of all backgrounds and ages, this strategy represents the most comprehensive government response to the problem in years.
Here is a clear breakdown of what the new Fraud Strategy contains, what it means for Londoners, and how you can protect yourself right now.
Why Was a New Fraud Strategy Needed?
Fraud in the UK has reached epidemic proportions. According to the Office for National Statistics, fraud accounts for around 40% of all crime experienced by adults in England and Wales — yet it receives a fraction of the policing resources devoted to violent crime or property crime. The harm caused by fraud is profound and often underestimated: beyond the financial losses, victims frequently suffer significant psychological harm, including anxiety, depression, shame, and loss of trust.
London, as the UK’s financial capital and one of the world’s busiest cities, is a particular hotspot for fraud. From sophisticated investment scams targeting wealthy individuals to mass-market phishing attacks on ordinary consumers, the range and scale of fraudulent activity in the capital is extraordinary. The City of London Police — the lead force for fraud in England and Wales — has been calling for exactly this kind of strategic national response.
What Does the New Fraud Strategy Include?
The strategy, launched at Guildhall with the involvement of the City of London Corporation and the City of London Police, sets out a comprehensive framework for tackling fraud across three main pillars: prevention, disruption, and victim support.
Prevention focuses on stopping fraud before it happens — through public awareness campaigns, tighter regulation of the online advertising and social media platforms through which so much fraud is now perpetrated, and stricter controls on the telecoms infrastructure that fraudsters use to make their scam calls and send their phishing texts.
Disruption involves giving law enforcement — including the City of London Police and the National Crime Agency — significantly enhanced powers and resources to identify, investigate, and prosecute fraudsters. The strategy includes new investment in specialist fraud investigation units and a commitment to greater international cooperation, reflecting the reality that much of the fraud targeting UK victims is perpetrated from overseas.
Victim support is perhaps the most important pillar of all. The strategy commits to improved support services for fraud victims, faster reimbursement processes for those who have lost money, and a cultural shift within the financial sector towards treating fraud victims with the empathy and urgency they deserve — rather than, as has too often been the case, with scepticism or bureaucratic indifference.
What the City of London Police Commissioner Said
Commissioner Pete O’Doherty of the City of London Police, speaking at the Guildhall launch, welcomed the strategy as a critical step forward in the fight against fraud. The City of London Police leads on fraud for England and Wales, and the Commissioner has been a prominent advocate for exactly this kind of comprehensive, cross-government approach.
The City of London Corporation — which governs the Square Mile and plays a central role in supporting the UK’s financial services sector — also expressed strong support for the strategy, emphasising the importance of protecting London’s reputation as a safe, well-regulated financial centre.
How Londoners Are Being Targeted Right Now
Understanding the fraud landscape is the first step to protecting yourself. In 2025 and into 2026, the most prevalent types of fraud targeting Londoners include:
- Authorised Push Payment (APP) fraud: Where victims are tricked into transferring money directly to fraudsters, often through fake investment opportunities, romance scams, or impersonation of banks and government agencies.
- Phishing: Fake emails, texts, and calls designed to steal personal and financial information.
- Investment fraud: Fake investment platforms, crypto scams, and “too good to be true” return offers targeting both experienced investors and those new to investing.
- Identity fraud: The theft and misuse of personal information to open accounts, take out loans, or make purchases in victims’ names.
How to Protect Yourself
While the new Fraud Strategy represents important progress at a national and institutional level, individual vigilance remains the first and most important line of defence. Here are the key steps every Londoner should take:
- Stop: If you receive an unexpected call, text, or email asking you to move money, share personal details, or click a link — stop. Do not act immediately, no matter how urgent it sounds.
- Verify: Contact your bank or the organisation in question directly, using a number from their official website — not the number provided by the person who contacted you.
- Report: Report all fraud attempts to Action Fraud (0300 123 2040 or actionfraud.police.uk), even if you didn’t lose money. Every report helps build the intelligence picture that helps police catch fraudsters.
- Protect your accounts: Use strong, unique passwords, enable two-factor authentication on all financial accounts, and never share your PIN or passwords with anyone.
The Bigger Picture
Fraud is not a victimless crime, and it is not inevitable. With the right combination of government action, industry responsibility, law enforcement capability, and individual awareness, the UK can significantly reduce the devastating impact of fraud on its citizens. The new Fraud Strategy is a meaningful step in that direction — and Londoners, living at the heart of the UK’s financial life, have every reason to engage with it closely.
