Three in five (60%) fraud victims have struggled with their mental health in the aftermath of the crime, a survey has found.

More than half (55%) of people whose mental health was affected said they experienced anxiety.

Some of those whose mental health was impacted also reported dealing with depression (48%), or low self-confidence and self-esteem (51%).

The research was carried out for Stop! Think Fraud, a recently launched Government campaign. It is backed by organisations representing law enforcement, tech, banking, telecoms and charities.

Just over a quarter (26%) of fraud victims experienced physical changes as a direct result of losing money. They included losing or gaining weight, experiencing headaches and suffering from panic attacks.

I think more people need to recognise just how much of a toll fraud can have on someone’s mental health

Fraud victim, 64

Being a victim of fraud also led to sleep problems for more than two-thirds (69%) of people, with more than a fifth (21%) citing a significant impact on their sleep.

The campaign quoted a 64-year-old fraud victim who said: “I think more people need to recognise just how much of a toll fraud can have on someone’s mental health.

“The stress affects all aspects of your life, and if you don’t have a good support network around you, it could easily become really overwhelming.

“To this day I still receive texts, calls and sometimes emails from people trying to steal my money. I’d like to think I’m a lot more vigilant now, but anyone could be caught out by these scams.

“My advice to anyone is do not respond to unsolicited calls, texts or emails, and keep a close eye on your bank account. If you’re unsure of something, stop, think and check before you do anything. It could save you thousands – and protect your mental health in the long run.”

The campaign has teamed up with Mental Health UK and behavioural psychologist Dr Linda Papadopoulos.

Dealing with fraud can be distressing, and it’s common that this is compounded with feelings of shame or blame

Charlene Marks, Mental Health UK

Charlene Marks, head of Mental Health UK’s mental health and money advice service, said: “This research demonstrates that fraud is about more than losing money – it can have a profound impact on our wellbeing.

“These worrying statistics also underline how money and mental health are intrinsically linked.

“In fact, we know from other studies that we at Mental Health UK have carried out that if a person is already struggling with their mental health, this can make them much more vulnerable and three times more likely to be a victim of online fraud.

“Unfortunately, it’s not uncommon to be targeted by criminals looking to steal your money, and it’s understandable to feel worried it could happen to you or a loved one. Understanding the risks of fraud and knowing how to protect yourself can help address any anxiety you might experience.

“Dealing with fraud can be distressing, and it’s common that this is compounded with feelings of shame or blame. It’s really important that people seek support for their mental health if it’s having a continued impact on their wellbeing.

“With the right support people can move forward with their lives, and for many seeking help from their GP or a registered counsellor represents a positive step forward.”

There is a sense that they ‘should’ have known better, that they ‘could’ have spotted the signs

Dr Linda Papadopoulos

Dr Papadopoulos said: “One of the most insidious things about these scams is that they create a barrier to seeking support, because the victim feels ashamed.

“There is a sense that they ‘should’ have known better, that they ‘could’ have spotted the signs, and as a consequence, this embarrassment often stops people from not only feeling entitled to seek support but, critically, from processing and responding to what has happened in a way that minimises the impact on their mental health.

“The fact is that scams like these can happen to anybody. Fraudsters and the technology they use are becoming so advanced that our ability to spot fraud and respond to it is constantly being challenged.

“It’s vital to get people not only to have a sense of entitlement about seeking support, but to equip them with the skills to stop, think twice and develop tools to respond.

“The key message here is to encourage anyone that has experienced fraud to seek support, because good effective support is out there.”

Here are some tips from Dr Linda Papadopoulos for guarding against fraudsters:

1. Common tactics can include impersonating an authority or “trusted” voice or using language that evokes powerful emotions such as fear or even hope, promising big financial gains if you “act now”.

2. While you cannot stop a criminal attempting to defraud you, you can make yourself a harder target. In the moment, this could be about breaking contact by closing a text, email or conversation. Or it could be changing your online passwords to help protect yourself online.

3. If you believe you have been a victim of fraud, report it. If you live in England, Wales or Northern Ireland, report it to Action Fraud online or by calling 0300 123 2040. In Scotland, fraud should be reported to Police Scotland by calling 101.

4. If you have been affected by fraud, remember help is available. It is important to feel empowered to ask for help, as by calling it out, we ultimately take back control.

Savanta surveyed more than 2,100 people across the UK in February and March who have been victims of fraud.

People can find out more about scams and getting support at stopthinkfraud.campaign.gov.uk.