Annual Fraud Indicator 2026
Uncovering the true scale of fraud in the UK.
Fraud costs the UK economy £220 billion annually. Yet, much of it remains hidden.
The latest Annual Fraud Indicator (AFI), produced by Crowe UK, Cifas and the University of Portsmouth's Centre for Cybercrime and Economic Crime, estimates that fraud costs the UK economy £220 billion annually. The report highlights both detected and hidden fraud losses across the UK economy.
Unlike traditional fraud reporting, the Annual Fraud Indicator estimates both detected and hidden fraud, providing a more comprehensive view of fraud across the UK economy.
Understanding the true scale of fraud is essential. While much fraud remains undetected, emerging and evolving fraud threats continue to challenge organisations and individuals alike.
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The scale of the challenge
While reported fraud remains significant, the true scale of losses extends far beyond detected cases, with hidden and undetected fraud continuing to affect the UK economy.
This report estimates:
£168 billion (76%)
of losses occur in the private sector.
£49 billion (22%)
of losses occur in the public sector.
£1 billion (1%)
of losses of fraud against individuals.
This year's report includes methodological enhancements designed to improve transparency and confidence in the estimates, while also incorporating new areas of fraud, including counterfeit goods, fraudulent food and drink, and online refund fraud.
The findings highlight the importance of understanding both visible and hidden fraud losses to enable more informed decision-making, stronger controls and more effective fraud prevention strategies. Fraud's impact extends beyond financial losses, affecting organisational resilience, reputation and public trust.
This report covers
Understanding the AFI methodology
The Annual Fraud Indicator uses a bronze, silver and gold framework to assess the strength of evidence supporting each fraud loss estimate. This methodology provides transparency around the confidence level of each estimate and helps build a more complete picture of fraud across the UK economy.
Gold
Based on the most robust and reliable data sources, supported by comprehensive evidence and strong confidence levels.
Silver
Based on credible data and evidence, although some assumptions are required.
Bronze
Based on limited available data, requiring greater use of estimation and professional judgement.
Gold
Based on the most robust and reliable data sources, supported by comprehensive evidence and strong confidence levels.
Silver
Based on credible data and evidence, although some assumptions are required.
Bronze
Based on limited available data, requiring greater use of estimation and professional judgement.
Specialist views
Read below insights from our experts at Crowe UK and Cifas.
"You can't tackle fraud effectively without understanding its true scale."
Tim Robinson
Partner, Cyber Security and Counter Fraud, Crowe UK
"For many organisations, the greatest fraud risk is the fraud they don't know about."
Martin Chapman
National Head of Forensic Disputes and Investigations, Crowe UK
"Fraud thrives in the spaces between what organisations can see, what they can measure and what remains unknown."
Daniel Sibthorpe
Director, Cyber Security and Counter Fraud, Crowe UK
"The scale of fraud highlighted in this report reinforces the need for continued collaboration, vigilance and information sharing across all sectors."
Mike Haley, CEO, Cifas
Annual Fraud Indicator report 2026
Download the Annual Fraud Indicator 2026 to explore the latest findings, trends and emerging fraud risks.
View our previous report
View our 2023 Annual Fraud Indicator Report, published in collaboration with Crowe UK, Peters & Peters and The University of Portsmouth.
