Over £612m was lost to investment fraud in 2023, according to new data from crime reporting service Action Fraud.

The Financial Ombudsman Service expects the number of complaints it will receive this year to hit 210,000 - nearly 30,000 higher than predicted in December.

The FCA has charged Bruce Rowan, David Simmons, Robert Sweeney and Justin Russell with multiple counts of conspiracy to commit fraud by false representation after they allegedly ran an unauthorised investment scheme accused of defrauding investors out of £3.9m.  

The Serious Fraud Office today raided two sites and made three arrests in the south of England as part of a new investigation into an alleged £76m luxury care homes fraud.