Thames Valley investment fraud cost £23m in 2024

More than £23m was lost to investment fraud in the Thames Valley area during 2024, new data has shown.

Investment fraud occurs when criminals approach individuals, often out of the blue, and persuade them to invest in schemes or products that are either worthless or do not actually exist.

The Action Fraud figures showed 861 reports last year, costing victims a total of £23,228,138.

Thames Valley Police and Crime Commissioner Matthew Barber said investment fraud could "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," he said.

The data showed people aged 35-44 were more likely to be targeted for investment fraud, but those aged 55-64 suffered the greatest financial losses.

It also suggested social media - particularly WhatsApp, Facebook and Instagram - were key tools for fraudsters.

The figures also showed fraudsters frequently impersonated well-known public figures, such as Martin Lewis, Elon Musk and Jeremy Clarkson, to try to build credibility.

Nationally, Action Fraud received 25,843 reports related to investment fraud, with victims collectively losing £649,062,146.

While the number of reports fell slightly since 2023, the data suggested larger sums of money were being lost.

Mr Barber said: "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."

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