As fraud surges, UK prepares to replace its broken reporting service Britain’s replacement service for its failed national reporting center for fraud and financially motivated cybercrime, Action Fraud, is to be named Report Fraud when it is publicly launched later this year, according to multiple sources. The new system is intended to win back public trust over law enforcement’s approach to what has become the most common crime across the country, with estimated costs to the economy of billions of pounds every year, alongside hundreds of victims losing their life savings. Official statistics show incidents grew 31% in the year ending this March, despite the fear that more than 80% of frauds go unreported. Although the public-facing portal for Report Fraud has faced multiple delays in…