News Archive

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Online scam 'breached security of 20,000 bank accounts'

Six people have been arrested over a scam which police believe compromised the security of more than 20,000 bank accounts and credit cards.

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Posted 5 August 2010

Procurement scams decline but overall UK fraud tops £1bn

Despite a decline in traditional procurement fraud, where firms are overcharged for goods and services, fraud in the UK has exceeded £1bn for the first six months of this year, eclipsing previous half-year figures. Experts have pointed to more sophisticated scams such as revenue dilution fraud and insider dealing as increasingly prominent trends.

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Posted 5 August 2010

Bank scam targets 100,000 people in the UK

A network of thousands of compromised computers that is being used to harvest online banking details has been uncovered in the UK.

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Posted 4 August 2010

Tax fraud involving charities 'runs into tens of millions'

Estimated figures lie behind the introduction of new powers for HMRC

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Posted 3 August 2010

Police issue warning over 'boiler room' scam

Monday, August 02, 2010, 09:001 commentShare Bookmark with (what is social media?)Facebook Digg Reddit Delicious StumbleUpon

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Posted 2 August 2010

Fewer fraud successes in the courts

Authorities are failing to stem the tide of fraud in Britain. Fewer cases go before the courts despite a clampdown promised by the 2006 Fraud Act

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Posted 1 August 2010

Achieving more for less is SFO Director's message in annual report published today

Director, Richard Alderman, in his letter to the Attorney General on the SFO's progress in the year 2009-10, reported that the SFO case-load averaged 86 last year. When he was appointed it was working on 65 cases. During the year 13 cases (involving around £33.5 million of victims' losses) were taken to trial. In this, his second annual report, 91% of defendants were convicted. When he joined as Director the figure was 61%.

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Posted 28 July 2010

£3.5m of benefit fraud uncovered in Birmingham

Council bosses in Birmingham have declared war on benefit fraudsters after uncovering £3.5 million of fiddled claims.

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Posted 26 July 2010

Fraud losses reach record £1bn in UK

One of the world's largest accountancy firms says fraud has hit a record of £1bn in the first six months of the year.

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Posted 19 July 2010

Car insurance premiums set to rise

A growing number of "crash for cash" scams in the UK and car insurance fraud have directly influenced the ever-growing rise in UK car insurance premiums which increased by 12% between January and June of 2010. This is the unseen cost of car insurance fraud and unfortunately it is something which law-abiding customers are being forced to cover. At a time when UK finances are literally being stretched to the limit this is the last thing that UK car owners wanted to see!

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Posted 19 July 2010