A reported £612.21 million was lost to investment fraud in the past year, data from Action Fraud, the national fraud and cyber crime reporting service, has revealed.

The new figures also show people aged 55 or over are more likely to be targeted by investment fraud.

The numbers were down from 2021-2022 by around £278 million from £890 million.

Investment fraud is when criminals contact people out of the blue and convince them t...