Up to half of all reported financial crime is either fraud or cyber-crime with 75 percent of all fruad crimes cyber-enabled, it was revealed at the annual PIMFA Financial Crime Conference.

PIMFA, the trade association for personal investment managers and financial advisers, also reported that the proportion of fraud and cyber-crime is growing exponentially year on year, despite fraud being hugely underreported and only one in eight cases being investigated.

Commissioner Ian Dyson of the City of London Police said:  “75 percent of all fraud crimes reported are cyber-enabled – it’s now a lot easier than robbing...