BusinessCompany NewsKPMG: Fraud at record levels

KPMG: Fraud at record levels

Technology used to cheat government and businesses

Fraud cases involving sums of more than £100,000 rose to 277 in 2006, from
222 in the previous year, according to
KPMG Forensics Fraud
Barometer
– an increase of almost 25%.

This is the highest number of cases brought to trial since KPMG started its
Forensics Fraud Barometer twenty years ago.

The firm said new and more widely used technology was helping managers and
teenage Internet wizards cheat the government and the companies they work for.

‘The figures produce a picture of a country where fraud is becoming
worryingly deep-rooted,’
said
Jeremy Outen
, a partner at KPMG’s forensics unit.

Further reading:

‘Expert panel’ fraud trials plan rejected

MPs call for probe into EU accounts ‘fraud’

Fraud and errors blight Northern Irish welfare system

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