Fraud falls in wake of Customs crack-down

Link: VAT fraud across Europe hits £67bn

The total value of major fraud cases reaching court more than halved in the first half of this year, down to just £71m from £158m in the corresponding period of 2003.

But there were more cases this year that qualified for the survey by virtue of having a charge of over £100,000, up from 63 in 2003 to 69.

David Alexander, fraud investigation partner at KPMG forensic, paid tribute to the Customs & Excise crack-down on ‘carousel’ fraud, which he said was the main reason for the drop in value.

But the picture north of the border bucked the trend. The value of fraud in Scotland rose in the period, up from £3m to £8.5m, despite a decrease in the number of cases, down four to seven.

Alexander said: ‘Once again, many of the frauds in our survey clearly demonstrate the need for companies to have a simple but well thought out anti-fraud policy.’

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