UK fraud costing '£193bn a year', new study suggests
Business fraud accounted for £144bn, the study by the University of Portsmouth said, while fraud against individuals was estimated at £9.7bn.
The last estimate - made in 2013 by the now defunct National Fraud Authority - put the cost of fraud at £52bn a year.
Report author Prof Mark Button said fraud was now on an "industrial scale".
According to the Annual Fraud Indicator 2016, the biggest loss was due to procurement fraud - estimated at £127bn a year - which included the submission of false invoices and the awarding of contracts in exchange for bribes.
The fraudulent cost to charities was estimated at £2bn per year, while mortgage lending losses were put at £1.3bn a year.
Insurance sector fraud cost £1.3bn a year, tax fraud was estimated at £15.4bn every year, while fraud losses in the NHS were £2.5bn ...
Posted by Staff
IRRV Performance Awards 2016
The 2016 Performance Awards Scheme looks to build upon the successful schemes of recent years
The on-going changes in the profession are reflected in the choice of categories, whilst the criteria for each category has been ...
Posted by LAIOG
Good Afternoon All, Please make a note in your diaries for the LAIOG AGM being held at Leicester City Council - full details and invites to follow shortly.
Best wishes Debbie
Posted by TEICCAF
Birmingham Council House 21-22/4/16
We are pleased to announce the details of TEICCAF and LAIOG's first joint event for this years Annual Fraud Conference and seminar in Birmingham on the 21st -22nd April 2016.
To Celebrate this ...