Payment fraud and crypto: what do the UK fraud figures mean?
Date: | Week 27 | Reading time: 7 minutes | Updated: Author: Tyler Dijst
In short
Payment fraud and crypto are linked more often than many people think. The ONS estimates 4.5 million incidents of fraud in England and Wales in the year to March 2026, and much stolen money moves on into crypto after a bank transfer. The trail seems to stop there, but often it does not. Paucitas works out where your money went.
Paucitas is an independent expert firm in the Netherlands that investigates investment and crypto fraud, in hundreds of cases a year. We see every day how an ordinary bank transfer ends up in crypto.
Get in touch with Paucitas or ring +31 20 244 5774, 24/7. We are happy to look at it with you, even if you are unsure.
In a nutshell
Fraud often starts with an ordinary bank transfer and ends in crypto. On the blockchain that trail stays visible. Paucitas maps the route of your money, so you know where you stand and what the next steps are.
You may have seen it in the news: fraud remains one of the most common crimes in the UK. Behind those figures are people who sent money in good faith. If you are one of them, you will know how upsetting and confusing that feels.
This blog explains what the figures show, why so much fraud ends in crypto and what that means for you.
What do the UK fraud figures show?
According to the Office for National Statistics, the Crime Survey for England and Wales estimated 4.5 million incidents of fraud in the year ending March 2026, compared with 4.2 million a year earlier. The ONS describes that change as not statistically significant, but the level remains very high. Fraud is one of the most common crimes adults experience.
It is important to know what these figures do not say. They are survey estimates, and not every victim reports fraud or even realises it happened. Money that disappears abroad or through other channels is hard to capture in any statistic. The real damage is therefore probably larger than the headlines suggest.
How does payment fraud turn into crypto?
A lot of fraud does not start with crypto, but it ends there. Someone is persuaded to transfer money, for example after a call from a so-called bank employee or through an investment platform promising high returns. That money leaves the account as an ordinary bank transfer. Shortly afterwards it is converted into crypto and sent on.
For victims that often feels like the moment the trail stops. Yet that is only partly true. Transactions on the blockchain are public and stay visible. That often makes it possible to follow which addresses and services the money passed through.
Does this sound familiar? Get in touch with Paucitas. We first look together at what happened, before you take further steps.
What does this mean for you as a victim?
For you the question is not how high the national figure is, but where your own money went. Paucitas follows the route of your transfer into crypto, and often on to the point where the money reaches an exchange. That point matters, because an exchange must identify its customers. More in tracing stolen crypto to an exchange.
Sometimes the money turns out to come together at a recognisable place. Sometimes something else turns out to be going on. Either way you get clarity in a report anyone can follow and understand step by step. The report shows whether money is still available, or where it went, and what the next steps are. If it is a scam, reporting it to the police is one of those steps, and the Paucitas report is then a strong attachment that sets everything out fully and clearly.
A trustworthy party never asks for your seed phrase and never promises guaranteed recovery for a fee. That is exactly the mark of a recovery scam, in which people are defrauded a second time.
An example from practice
A man received a call from someone claiming to be from his bank. His account was supposedly at risk and he had to move his savings to a "safe account". Only after a few days did he realise something was wrong.
Paucitas followed the route of the money. Within a day it had been converted into crypto and, via a few addresses, ended up at an exchange. With the report he reported it to the police and spoke to his bank. At last he knew what had happened.
Paucitas takes privacy very seriously and never shares clients' personal details. This is a composite example: names, amounts and details have been changed. The situation is one we see in practice.
What does this mean for solicitors and insolvency practitioners?
For solicitors, insolvency practitioners and accountants, the figures confirm what they already see in practice. Fraud is moving to fast, cross-border channels, and crypto plays a growing part. In proceedings, what counts then is not the general picture but a well-founded reconstruction of the specific flow of money. Paucitas provides that reconstruction, separate from tax or legal judgements. More on expert reports for court.
What does Paucitas do?
Paucitas maps the flow of money: the route, the services it passed through and the timeline. Paucitas does more than trace transactions: we also go through all conversations, documents, emails and other communication, so that a complete picture emerges, with a timeline and where all the money went, step by step. Paucitas does all its tracing itself, without tracing tools. We do not promise an outcome, but afterwards you do know where you stand. More on our approach is on crypto fraud investigation.
We are always honest about what is realistic in your situation. Sometimes one conversation is enough to move forward.
What you can do yourself right now
- Keep all bank statements, messages and emails.
- Write down when and how there was contact, and with which phone number or website.
- Do not send any more money to the same party or to anyone promising to get your money back.
What does an investigation cost and how quickly can you get help?
- Costs: every investigation is tailored. You receive a bespoke quote in advance, which we go through together, so there are no surprises.
- Turnaround: from the same day to around two weeks.
- Contact: you can ring at any time, 24/7. We answer the form within 1 to 3 hours, and email within 24 hours, usually the same day.
Has your money disappeared into crypto after a transfer? Get in touch for a free intake, or ring +31 20 244 5774. See also where to turn after a crypto scam.
Sources: ONS, Crime in England and Wales, year ending March 2026; Report Fraud; Police Scotland, scams and frauds; Europol, online fraud schemes.
Do you have questions about this blog?
Feel free to get in touch with Paucitas. Paucitas can be reached by phone 24/7, including evenings and weekends. Through the contact form we usually reply within 1 to 3 hours, and we answer e-mail within 24 hours.
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Frequently asked questions about payment fraud and crypto
How common is fraud in England and Wales?
Paucitas points to ONS figures, which estimate 4.5 million incidents of fraud in the year ending March 2026, compared with 4.2 million a year earlier. The ONS says that change is not statistically significant, but fraud remains one of the most common crimes.
What does payment fraud have to do with crypto?
Paucitas sees that fraud often starts with an ordinary bank transfer that is then converted into crypto. On the blockchain it stays visible which addresses and services the money passed through.
Is my money gone once it has been turned into crypto?
Paucitas explains: not necessarily. The trail stays visible and often leads to an exchange. Paucitas maps the route, so you know where your money went and what the next steps are.
Can Paucitas get stolen crypto back?
Paucitas: that depends on your situation. If you still have access to your own wallet or account holding funds, there may still be options. If everything has been sent to the fraudsters, the picture is different. That cannot be judged from a distance. Paucitas first looks at your situation and tells you honestly what is and is not possible. Be careful with anyone who promises in advance that your money will come back. In doubt? Contact Paucitas and you will know where you stand.
Someone rings promising to get my money back. What now?
Paucitas advises caution. Parties who ask for money up front and guarantee recovery often turn out not to be trustworthy. Feel free to ring Paucitas and we will look at it with you.
From Amsterdam, for the whole of the UK
Everything can be done fully online. Prefer to meet in person? You are very welcome at our office in Amsterdam, by appointment.
Paucitas is an independent expert firm based in the Netherlands that, for clients across the UK, investigates investment fraud and crypto fraud, establishes the origin and legitimacy of crypto assets and prepares expert reports for legal proceedings and compliance.
Your own situation
If you are reading this, you probably have a question about your own situation. That is exactly what Paucitas does.
The first step is contact by phone. You can book that call by phone or through the contact form, so you do not have to wait. In the call we look together at what can factually be established in your case and what Paucitas can examine for you.