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A survey by accountants BDO shows a stark drop in the value of reported frauds in 2018, from a high of GBP 2.1 billion in 2017. Greed, however, remains too good an opportunity to miss for many.
Scotland recorded £14.9 million of highly organised tax fraud cases, with employee fraud and third-party fraud also rising.
Fraud in the East Midlands has made a huge leap in value, according to new figures.
The value of fraud in the West Midlands fell 89 per cent between 2017 and 2018, according to new figures from BDO.
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.
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.
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.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014