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The total value of reported fraud and economic crime in the UK reached £5.5bn in 2025, according to the latest BDO FraudTrack report.
Five high-value cases drove the increase from £550m in 2024, with money laundering accounting for £4.9bn of the total, including a £4.8bn cryptocurrency scheme.
Frauds by individuals contributed £207m overall, according to the firm’s findings. Management fraud rose from £11m to £195m, which BDO said indicated a growing vulnerability within organisational governance and oversight.
The three crime types accounted for 97% of the total value. BDO analysed reported cases valued at £50,000 and above between 1 December 2024 and 30 November 2025.
London and the South East remained the primary fraud hotspot, accounting for more than 90% of the total reported value. Yorkshire ranked second with nearly £200m in losses.
The Midlands and North West each reported values close to £110m. Scotland recorded total losses approaching £20m.
The report found that AI-enabled frauds, including deepfakes used for executive impersonation, are a primary concern. Individuals were the largest victim group, losing £4.9bn.
The finance and insurance sector lost £171m. Public administration reported £138m in losses, while the professional, scientific and technical services sector recorded £69m.
It comes as the government previously announced a three-year £250m strategy to combat fraud. This includes an online crime centre to coordinate police, intelligence agencies and banks.
A recent Crime Survey of England and Wales found one in 14 adults were fraud victims. The Economic Crime Survey showed one in four businesses were affected.
BDO partner and head of investigations, Stephen Peters, said: “Fraud is becoming more technologically enabled, more adaptive and more resilient. Yet despite significant advances in detection and prevention, billions of pounds continue to be lost each year.
“If regulatory and legal frameworks are to remain effective, they must evolve at pace. Renewed focus, modernised enforcement tools and genuine cross-sector collaboration will be required. Without sustained reform, the financial and societal costs will continue to rise.”
