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19 Jan 2009
285 cases of publicly reported fraud cost UK companies £1.19bn last year, an increase of 14 per cent year on year, according to BDO Stoy Hayward’s annual FraudTrack report.
Nearly two-thirds of affected companies were in the banking and insurance sectors, the Financial Times reported. Experts worry that more companies will be defrauded in coming months as the economy continues to deteriorate.
Previous downturns have coincided with an increase in reported cases of fraud. The number of reported cases is only the tip of the iceberg. Many corporate victims prefer to discreetly deal with alleged theft or kickbacks involving employees and directors.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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