RGP logs £5.2m in fraud losses in Gib last year 

The total value reported as lost to fraud was £5.2m last year, the Royal Gibraltar Police has confirmed, a marked decrease which the force said is a result of enforcement and community awareness. 

The RGP’s Economic Crime Unit (ECU) said it has seen a significant return on its preventive efforts this year and efforts have also been made by the Gibraltar Bankers’ Association with repeated warnings of circulating scams. 

Gibraltar has lost millions over the years to fraud with RGP figures showing how this loss is recurrent as international fraudsters continue to strike. 

Last year’s reported loss of £5.2m shows a decrease when compared to £7.5m worth of losses logged in 2024. 

The RGP said reduction demonstrates that the ECU’s strategic focus is yielding tangible results. 

In 2023, the RGP logged £27.2m which was allegedly lost to fraud. At the time, this steep rise was also due to cases which related to alleged frauds prior to the reporting period. 

By way of comparison, £7.6m was reported lost as a result of fraud in 2022 and £2.1m in 2021. 

Of the £5.2m reported lost to fraud in 2025, cyber-enabled crime currently accounts for 71% of reported fraud, an of 2% increase from 2024. 

The RGP said one the primary fraud types identified this year was bank fraud at 29%. 

Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. 

Confidence fraud was the result of 25% of losses. 

Confidence fraud is the reliance on another’s discretion and/or a breach in a relationship of trust resulting in financial loss. 

This includes a knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment. This includes frauds like the Nigerian letter scam. 

Card fraud was the third most common fraud in 2025 at 11%. This occurs when someone uses lost or stolen bank cards or details to make purchases. 

The RGP has found that fraudsters are changing their tactics. 

“While enforcement and community awareness have led to a welcome decline in fake bank scam calls, criminals are pivoting,” the RGP said. 

“We have noted an increase in offenders impersonating credit card companies and delivery services to harvest personal details or solicit ‘special handling fees’.” 

“The Economic Crime Unit remains committed to adapting its tactics, ensuring Gibraltar remains a resilient environment and a difficult target for financial crime.”