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There were 807 recorded sexual assaults in the first eight months of this year, but only 42 people faced police charges.
And 19 allegations of rape on trains and in stations did not lead to a single charge.
In 2012 almost a third of reported rapes and sex assaults went to court.
The number plummeted to 12% last year and in the months to August this year police pressed charges against sex beasts in just one in every 20 cases.
BRITISH TRANSPORT POLICE
“People should feel safe going about their daily lives”
Victim Support spokesman
Campaigners said victims fear they are not being taken seriously.
A spokesman for Victim Support said: “People should feel safe going about their daily lives. If someone does experience sexual assault they should feel confident that they will be taken seriously if they choose to report what’s happened.”
One of the 42 charged this year was Emanuil Boros.
He groped passengers from behind on the Underground as they waited for trains or went through ticket barriers.
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He was jailed in May.
Pervert Nicky Bayliss, 43, was caged in March for a series of sex assaults on trains in Birmingham.
He trapped his first victim in her chair as he launched a vicious attack.
Journalist Imogen Groome was a victim of a rush-hour attack earlier this year on the London Underground.
She said: “I felt something against me. At first I just thought it was someone’s bag. Then I realised what was happening. He was rubbing himself up against me. I was unable to move for about 10 minutes until the carriage got quieter.
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“I didn’t report it. I felt like there was nobody to tell at the time. I didn’t feel comfortable doing it.
“I have spoken to other women since telling my story in public and encouraged them to report incidents. I think it is the right thing to do.”
Rachel Krys, co-director of End Violence Against Women, said: “If you don’t have robust measures in place to bring these sex offenders to justice then you allow predatory perpetrators to act with impunity. And that is the wrong message we are sending out.”
British Transport Police said in the report: “It should be noted that figures relating to charges or outcomes on offences are dynamic and liable to change and the more recent offences are, the more likely it is they are still under investigation.
“For instance, of the 19 rape offences recorded to date in 2017, 10 currently have an ongoing investigation of which the outcome is yet to be determined.”