Cheque fraud losses 2003-2020

Data on the annual value of cheque fraud losses in the United Kingdom (UK) from 2003 to 2020 shows that the value of cheque fraud losses decreased overall during the period under observation, although there was a two year increase up to 2019, reaching a value of 53.6 million British pounds,but fell again in 2020 to 12.3 million British pounds. The largest total of cheque fraud losses was found in 2008, when a value of fraud losses of 68.3 million British pounds was recorded. Cheque fraud losses includes counterfeit, forged and fraudulently altered cheques.

Value of annual cheque fraud losses in the United Kingdom (UK) from 2003 to 2020 (in million GBP)

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Release date

March 2021

More information

Region

United Kingdom

Survey time period

2003 to 2020

Supplementary notes

The source adds additional information: "There are three types of cheque fraud: counterfeit, forged and fraudulently altered cheques. Counterfeit cheques are printed on non-bank paper to look exactly like genuine cheque. Forged cheques are genuine cheques that have been stolen from an innocent customer and used with a forged signature. A fraudulently altered cheque is a genuine cheque that has been made out by the genuine customer but a fraudster has altered it before payment i.e. by changing the name of beneficiary or the amount."
Data for earlier months are published also by UK Cards Association here.

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