UK fraud hits record levels
KPMG's fraud barometer shows highest levels in its 23 year history, with the taxman as the main target
THE UK HAS recorded the highest number of fraud cases since records began, according to the KPMG fraud barometer.
The government was the main target in the last year with 42.5% of all fraud aimed at the public purse, totaling £593m. Fraud in this sector increased 20% in 2010 with 70 cases, compared to 59 in 2009.
Hitesh Patel, KPMG forensic partner, said: “Fraud is not a victimless crime, particularly at a time when the country deficit is so high. Anti-fraud measures need to be reviewed and amplified by the public sector to combat this assault.”
KPMG’s fraud barometer revealed there were 314 major cases heard in the UK’s crown courts in 2010, where each case was worth more than £100,000.
Overall, the the 314 cases amounted to fraud involving £4bn.