Four in ten reports of mortgage fraud not investigated by Police

Four in ten reports of mortgage fraud not investigated by Police

Police are investigating just 60% of mortgage fraud cases despite the average victim losing over £100,000.

According to an investigation by Telegraph Money, 40% of cases reported to Action Fraud aren’t investigated by the National Fraud Intelligence Bureau, part of the City of London Police.

If there are “insufficient lines of enquiry” and Police aren’t confident there is the possibility of a conviction, the information isn’t acted on.

Today’s Conveyancer previously reported the huge increase in conveyancing fraud which occurred as transactions spiked ahead of the increase in SDLT for additional properties.

A spokesman for the City of London Police said: “The National Fraud Intelligence Bureau assesses every allegation made via Action Fraud and disseminates those cases that have viable lines of inquiry.

“We have to maximise our resources where there is the best chance of a successful outcome.”

Josh Morris

Josh is the Journalist for the Today's Group and writes many of the articles for Today's Conveyancer. He graduated with a degree in Physics from Cardiff University in 2009 before training as a journalist. He has previously written for The Times, The Mirror and The Daily Express.

Leave a Reply

Your email address will not be published. Required fields are marked *