Cryptocurrencies: Fraud
The question
To ask the Chancellor of the Exchequer, if she will make an estimate of the amount of money lost by people in the UK to cryptocurrency fraud since 2019.
Answered by Emma Reynolds
The Financial Conduct Authority’s most recent consumer research publication provides indications of the levels of cryptoasset related fraud in the UK. This research is available online at: https://www.fca.org.uk/publication/research-notes/cryptoasset-consumer-research-2024-wave-5.pdf.
The Government take these fraud risks very seriously, and that is why it is proceeding with proposals to introduce a comprehensive UK financial services regulatory regime for cryptoassets.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →