Laura Eshelby: Why fraud is a global business opportunity for OCGs

I recently had the opportunity to present at the 14th Annual Counter Fraud, Cybercrime and Forensic Accounting Conference at the University of Portsmouth. The topic I explored was how fraud has evolved into a global business opportunity for organised criminals – and the considerable challenges this presents for disruption and prevention efforts. Below is an overview of the key points we covered during that session. 

The scale of the challenge

Fraud now accounts for 43% of all crime in the UK, with 1 in 14 adults falling victim (ONS). Of the frauds reported, 70% have an international element (City of London Police), with total annual losses estimated at £219bn across all sectors (Crowe), including £55bn in the public sector alone (NAO). 

On a global scale, the Global Anti-Scam Alliance (GASA) estimates losses could exceed $1 trillion, with half the world encountering fraud weekly. These figures may still be underestimates – 70% of global victims and 86% of UK victims are believed not to report fraud, often due to shame, embarrassment, or a belief that little will be done in response. 

Regional trends in fraud

According to Interpol, fraud patterns vary by region. In Europe, business email compromise and investment fraud dominate, while in Africa, romance scams and advance-fee frauds are more prevalent. 

Interpol has referred to the situation as an ‘epidemic’, pointing to rapid technological change and the industrial scale of organised crime operations. Criminals increasingly leverage AI to enhance scams and use cryptocurrencies to move illicit proceeds globally, complicating law enforcement efforts. 

The rise of fraud factories

One of the most striking illustrations of organised criminality is the emergence of fraud factories – highly structured criminal operations functioning like corporations. These are often staffed by trafficked individuals who believed they were applying for legitimate jobs in marketing or IT but were instead taken to compounds across Southeast Asia. 

Since the COVID-19 pandemic disrupted traditional laundering routes (e.g., casinos), criminals have shifted focus. It’s estimated that over 220,000 people are being held in fraud compounds in Asia, with global losses exceeding $75bn between 2022 and 2024. 

These factories train individuals to run romance and investment scams targeting victims across the USA, UK, Europe, and China. Interpol and the UNODC report strong links between these activities and other organised crime such as human trafficking and narcotics. 

Organised threat in the UK also

The UK is not immune to this sophisticated threat landscape. For example, Operation Destabilise, led by the NECC, NCA and international partners, disrupted a global money laundering network that used crypto assets to facilitate luxury lifestyles for sanctioned individuals. 

The results were significant: 

• 84 arrests 
• £700m in assets seized 
• £200m in crypto assets recovered 

This and other operations demonstrate the corporate structure of organised crime, with UK links to multi-national syndicates conducting phishing, trafficking, and large-scale fraud.

Fighting back with technology and collaboration

To counter these threats, we must match criminals in their use of technology and innovation. This includes: 

• AI-powered analytics to detect anomalies in financial systems 
• Cross-jurisdictional intelligence sharing 
• Data-driven resource prioritisation 

Successful disruption efforts – such as those by Interpol, the NCA and others – underscore the importance of partnerships between law enforcement, industry, and government. 

Equally critical is the protection of trafficked workers in fraud compounds, some of whom are victims themselves. Support services and, where possible, rehabilitation efforts must be prioritised, despite the complexities posed by varying legal systems and approaches to justice.

Clue’s role in tackling economic crime

At Clue, we provide a powerful investigative platform trusted by law enforcement, government, and private sector teams. Our software is built to help intelligence and investigation professionals connect data points, manage cases efficiently, and drive smarter decision-making. 

We empower users to: 

• Uncover hidden relationships in vast datasets 
• Collaborate securely across agencies 
• Streamline complex fraud and financial crime investigations 

We’re proud to support organisations in their mission to disrupt economic crime – and are committed to evolving our tools to stay ahead of organised criminal threats. 

Want to learn how Clue can support your organisation? Book a meeting with me here.

Also, catch up with our Joining the Dots podcast, with guests including Professor Mark Button and the NECC’s Nick Sharpe discussing some of these themes in more depth. Listen to Joining the Dots 

Fraud remains the most widespread crime in the UK, and it’s growing in both complexity and scale. Law enforcement and intelligence agencies need continued support from government, industry, and technology providers to remain agile and effective. 

Meanwhile, tech and social media platforms must take greater responsibility to remove fraudulent content – whether false job ads, bogus investment schemes, or crypto scams.