15 Dec 2016
The UK is failing to keep up with online fraud, and systems to protect shoppers from scams do not yet provide value for money, the National Audit Office has warned.
The NAO estimated that consumers lost at least £14.8bn last year, of which £4.2bn is thought to be hidden and unreported losses from crime such as mass marketing fraud and counterfeit goods.
Consumer protection cost around £165m during the year, with local Trading Standards services receiving about £124m and Citizens Advice £18m, the NAO calculated.
You can claim CPD minutes for this content, by signing up to our CPD WalletFREE CPD Wallet