BusinessCompany NewsFDs back call for Scottish fraud squad

FDs back call for Scottish fraud squad

Scottish finance directors believe police do not have the manpower to tackle the growing menace of fraud, which costs UK businesses £14bn a year.

Link: ‘More companies than ever affected by fraud’

Just one in ten FDs polled by CA magazine, said they believed police had enough resources to combat fraud, while 45% said current levels were insufficient.

The poll also revealed that two-thirds of FDs do not have an agreed fraud prevention policy in their company.

Tom McMorrow, director of legal services at ICAS said: ‘Financial crime draws oxygen from the economy and impairs its breathing. The longer we address it apathetically, the greater the impairment.’

News of this lack of confidence, comes as the Scottish accountants’ journal calls for the establishment of a national fraud squad for Scotland, to help out the Serious Fraud Office and attached police force, as well the implementation of fraud awareness training

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