Research, Survey and Statistics

Value of fraud more than halves in 2018 from record 15-year high

The value of fraud in Yorkshire has risen by 51.2% from £34.3m in 2017 to £52m in 2018, according to research carried out as part of BDO LLP’s annual FraudTrack report.

The reported value of UK fraud plummeted from £2.1bn to £746.3m last year, according to BDO, but the real value could be as high as £37.5bn

The firm’s annual FraudTrack report reveals that, whilst the value of fraud cases has dropped, it is still a prevalent issue in the UK.

https://www.accountancyage.com/fraud-is-complex-and-rarely-about-one-issue-says-bdo/#.XHXHzjxCtPI.twitter

Some friends of ours at the University of Illinois at Urbana-Champaign and Queens University in Kingston, Ontario are conducting research on group fraud, and we’re hoping you can do them a solid and help them with their project.

https://goingconcern.com/group-fraud-research-sponcon/#respond

The City of London has seen an increase of 24% in reports of cyber crime with email and social media hacking at the forefront of the problem for businesses and their people in the Square Mile.

https://www.twinfm.com/article/cyber-crime-rises-24-huge-losses-in-the-city-and-nationally

Money lost due to cyber crime across West Mercia has dropped by more than half, it has been revealed.

Crime against households and adults, also including data on crime experienced by children, and crimes against businesses and society.

https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/bulletins/crimeinenglandandwales/yearendingseptember2018#little-change-in-the-volume-of-fraud-offences-in-the-last-year

2018 saw an increase in the number (109%) and value (306%) of fraud cases that appeared in courts across the Midlands according to the latest KPMG Fraud Barometer.

https://www.thebusinessdesk.com/eastmidlands/news/2021691-fraud-cases-double-in-the-east-midlands#.XD5bxFGAvTY.twitter

The survey give context on the risks to UK society and how banks and financial institutions choose to respond. While financial firms’ fraud prevention strategies range from implementing the latest technologies to hiring financial crime professionals, the costs of fighting fraud are high and growing.

https://blog.vasco.com/legal/uk-financial-crime-fraud-money-laundering/