Statute of Limitations

A statute of limitations (called a 'limitation period' in UK law) is a legally mandated time window within which a lawsuit or criminal charge must be initiated. Once the window closes, courts will typically refuse to hear the case regardless of its merits. For fraud victims, missing the deadline can mean losing the right to sue a scammer even when the wrongdoing is well-documented.

Time limits vary widely by jurisdiction and cause of action. In England and Wales, the Limitation Act 1980 generally sets six years for contract and tort claims, but a special rule postpones the clock where the claimant could not reasonably have discovered the fraud — this 'deliberate concealment' provision is crucial for victims who only learn they were defrauded years later. In the US, federal wire fraud has a five-year statute; state consumer fraud statutes range from two to six years.

For practical purposes, fraud victims should document discovery dates carefully (the date they first suspected or confirmed the fraud), seek legal advice promptly, and be aware that certain regulatory complaints processes (such as the FOS in the UK, which has a six-year or three-years-from-knowledge rule) have their own, separate limitation periods.