Thames Valley residents lost over £23m to investment fraud in 2024

This is linked to 861 cases that were opened in the region in 2024. People aged 35-44 were more likely to be targeted for investment fraud, while those aged 55-64 suffered the greatest financial losses, it has been revealed.

Cryptocurrency was the most common commodity that victims believed they were investing in and accounted for 40% of all reports in the UK, Action Fraud confirmed.

Most investment fraud cases involve criminals approaching individuals, often out of the blue, and convincing them to invest in schemes or products that are either worthless or entirely fictitious. Fraudsters may claim to offer opportunities in foreign exchange, gold and other valuable metals, overseas timeshares, or cryptocurrency, promising unrealistically high returns that far exceed normal market trends.

Thames Valley Police and Crime Commissioner, Matthew Barber said: “Investment fraud is one of the most common types of fraud and it can destroy lives and leave people feeling humiliated and helpless. Some feel guilty they were groomed or that their contacts were used to target other victims through social media, but only the fraudsters are at fault. People are being robbed of their life savings and future through more and more sophisticated scams many using AI impersonating loved ones. I urge those who have been affected to report investment fraud and seek support. I also encourage everyone to continue to heed police advice.”

Nationally, Action Fraud received 25,843 reports related to investment fraud, with victims collectively losing £649,062,146. While the number of reports represents a 7% decrease compared to 2023, the total financial loss saw a 13% increase. Further findings from Action Fraud show that social media remained a key tool for fraudsters, with 36% of all investment fraud reports linked to those platforms, most commonly WhatsApp.

The data also showed that fraudsters frequently impersonated well-known public figures to build credibility. Action Fraud has revealed that criminals often impersonate the popular television financial expert, Martin Lewis.

Cybercrime can be reported to police officers within Action Fraud online or by calling 0300 123 2040.