Frauds worth £12bn go unreported

The true scale of crime in Britain is far higher than previously thought because 85 per cent of fraud and cybercrime goes unreported, official figures have revealed for the first time.

Figures from the City of London Police – which has a national lead on tackling fraud – showed an estimated 1.2 million crimes were not reported by individuals and businesses such as banks in 2013-14, worth more than £12 billion.