BusinessCompany NewsScottish fraud increases five-fold

Scottish fraud increases five-fold

A study by KPMG has found that fraud in Scotland increased at an even faster rate than it did for the rest of the UK.

Link: Customs denies fraud case bungles

The firm found that the total value of fraud perpetrated in Scotland rose from £4.71m in 2001 to £21.48m, an increase of 356%. Across the whole of the UK the value of fraud climbed by 193%.

But one case alone accounted for more than half of all frauds in the region. Ian Erskine, a 48-year-old former director at Hirbenian FC, was jailed for four years after committing fraud totalling £11m.

At the same time as fraud levels continue to rise, UK insurer, Royal & Sun Alliance, has begun a campaign to raise awareness about fraud committed in the office.

RSA has outlined a series of risk management techniques to reduce the occurrences of fraud including encouraging employees to take two weeks’ consecutive leave, undertaking random and surprise audits, becoming aware of employees living beyond their means and promoting a whistleblowing philosophy.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor