Annual Fraud Indicator

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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 ...

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Previous News

IRRV Performance Awards 2016

Posted by Staff

25-05-2016

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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 ...

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LAIOG AGM - 29th June 2016 - Leicester CC

Posted by LAIOG

06-05-2016

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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

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“FRAUD WARS—The FORCE AWAKENS”

Posted by TEICCAF

24-02-2016

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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 ...

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