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Following a reduction in alleged fraud cases seen in Wales in 2017, this year has seen a return to the overall trend of an increase in the number of fraud cases coming to court
The value of alleged fraud reaching UK Courts in the first half of 2018 reached £895 million. The figures follow 2017’s record breaking year which had registered £3.6 billion of fraud – the largest value in KPMG’s Fraud Barometer’s 31 year history.
While high value fraud losses have fallen overall, embezzlement cases have increased in both value and volume, as staff stole money from employers.
Nearly 1 in 10 UK adults (9%) have been defrauded via their debit or credit card in the last year, equating to 4.7 million people across the country.
Losses due to unauthorised financial fraud fell five per cent last year, totalling almost £732 million. However this, figures collated for the first time on authorised push payment (APP) scams show an additional £236 million was stolen last year.
E-commerce sites in the US and Western Europe are estimated to lose a whopping $18.6bn this year through fraud, according to a new Forrester report.
The report shows you are more likely to be a victim of fraud or cybercrime above any other offence.
That’s the main finding of EY’s latest Global Fraud Survey, which explores the impact of enforcement efforts and asks how compliance can be made more effective.
Protiviti and Utica College’s latest White-Collar Crime and Fraud Risk Survey report revealed that organizations continue to lag in employing sound fraud risk management practices – a finding that, to me, signals a lack of understanding of the interrelationship between fraud risk and ethical culture.
EY's 15th Global Fraud Survey contains insights from business leaders on the risk and challenges organizations face in fighting fraud and corruption in an era of significant technological advance.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014