Financial fraud (1)

In 2021/ 2022 £2.46 billion was lost to business and individuals due to fraud.

40% of all offences in England and Wales are due to fraud.

In the year ending December 2022 one in 17 adults were victims of fraud.


An act of dishonesty normally through deception, breach of trust with the intention of either making a gain or causing a loss of money or other property. It can be committed on line, in person or via correspondence. Financial exploitation for purposes of money laundering, targeting of children and adults at risk.

Why teach about fraud? To keep children safe while in education. Young people are victims of fraud. They are used as 'money mules' to move cash between accounts, undetected by police.

Why is the topic taught in Citizenship? Citizenship develops knowledge, skills and understanding that pupils need to play a full part in democratic society as active and responsible citizens. lt includes teaching the functions and uses of money, the importance of practical budgeting and managing risk. Risk management, how to manage the risk of fraud. The role of banks in everyday life and as a way of managing risks with money. The nature of rules and laws and the justice system, role of the police, the operation of courts and tribunals. The precious liberties enjoyed by UK citizens, the rule of law, individual liberties.

Teaching year 7 about fraud: Rule of law. What is the law, what is money. Managing money:functions and uses of money; importance and practice of budgeting; managing risk, fraud. money muling.

Key laws

The Fraud Act 2006

Failure to prevent Fraud Bill

Running an Active Citizenship Campaign

Using fraud and financial crime could provide the stimulus for an Active Citizenship campaign. The focus could be on money muling and fraud. The aim would be to focus people's minds on fraud prevention.

In planning a campaign students need to have regard to time limits, resources available and target groups. Make use of social media. Get parental consent if a video of students is to be used. Keep an eye on safeguarding issues. Do not allow students to expose themselves to more risk of fraud or criminal groups. As teacher students will come to you for research and facts.

Get students to evaluate the success of a campaign. To look at their own roles, what they have learnt, what worked, what could be improved. If they did it again, what would they do differently. Did they enjoy the experience.