Skip to main content

Fraud

Volume 495: debated on Monday 6 July 2009

To ask the Secretary of State for the Home Department (1) what estimate he has made of the amount of money which has been lost through Ponzi-type frauds in each of the last five years; (283748)

(2) To ask the Secretary of State for the Home Department how many people have been victims of Ponzi-type frauds in each of the last five years.

[holding answer 2 July 2009]: These figures are not available centrally, however in 2007 the OFT published its research into the impact of mass market scams which estimated that 90,000 people in the UK fall victim to high risk investment scams (including Ponzi schemes) each year at an estimated cost of £490 million per year.