The cost of fraud in the UK more than doubled to £2.3bn in 2023, according to BDO’s ‘FraudTrack’ report, with the number of reported cases rising by 18 percent to a three-year high.

Employees can commit fraud in a wide variety of ways, including dishonest sales practices, hiding important information from consumers or investors, and dishonest practices in financial markets. Individuals, other organisations or the taxpayer may end up defrauded and out of pocket as a result.

The question for organisations is how to defend against this ongoing tsunami of fraudulent activity.