DATA & STATISTICS

Hard numbers on bank branch closures, withdrawal restrictions, and crypto fraud losses. The picture they paint is not accidental.

BANK BRANCH CLOSURES

6,005

UK bank branches closed since 2015 — over 60% of the network, per Which? research.

33

UK parliamentary constituencies expected to have no bank branch by end of 2024, covering more than 3 million people.

77,536

Total US bank branches at the end of 2023, after a net loss of 1,409, per S&P Global Market Intelligence.

~100,000

US bank branches in 2009, before 15 consecutive years of net closures.

800

Regional branch services closed in Australia between June 2017 and June 2023, per a Senate inquiry.

60%

Of the UK banking network gone in nine years, at roughly 53 closures per month.

Sources: Which?, The Guardian, Bank Director / S&P Global, ABC News.

CRYPTOCURRENCY FRAUD

$5.6B

Estimated US losses tied to cryptocurrency fraud in 2023, per the FBI IC3 Cryptocurrency Fraud Report.

69,468

Complaints submitted to IC3 in 2023 with a cryptocurrency nexus.

$3.96B

Crypto investment-fraud losses in 2023, up 53% from $2.57 billion in 2022.

$1.24B

Reported losses by victims over age 60 in crypto investment fraud alone.

45%

Increase in total crypto-fraud losses from 2022 to 2023.

71%

Of all crypto-fraud losses tied to investment scams, according to IC3.

Source: FBI IC3 2023 Cryptocurrency Fraud Report.

WHAT THE NUMBERS MEAN

Branch closures reduce access to cash, raise the cost of resolving problems, and make customers dependent on apps and phone queues. At the same time, crypto fraud losses are growing faster than almost any other category of consumer crime. Together, the two trends create a gap: people have fewer human points of contact for banking problems and more anonymous digital channels through which scammers can reach them.

Recovery scammers exploit that gap. They promise a human solution to a digital loss—then charge for it. The data shows why skepticism is justified: the same agencies the scammers impersonate report billions in losses and warn that criminals now use AI to impersonate officials. The victims are not careless. They are busy, frightened, and hopeful, and the scams are designed for exactly that.

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THE GLOBAL PICTURE

Bank access and crypto fraud are not isolated problems. They are connected by the same shift toward digital, automated, and depersonalised finance.

As branches close and cash becomes harder to access, more people are pushed into online banking and digital payment apps. That same digital environment is where crypto scams operate. The result is a double vulnerability: fewer human places to get help, and more anonymous channels for fraud.

Older customers are hit hardest on both fronts. They are more likely to rely on branches and less likely to recognise crypto scams. The FBI reports that victims over 60 lost more than $1.2 billion to crypto investment fraud in a single year.

Stock market data

MORE NUMBERS

53%

Increase in crypto investment fraud losses from 2022 to 2023.

15

Consecutive years of net US bank branch closures.

$1.24B

Losses reported by crypto investment fraud victims aged 60 and above.

3M+

People in UK parliamentary constituencies expected to have no bank branch by end of 2024.