Record fraud levels in 2010
11 January 2010
KPMG's annual Fraud Barometer has measured a record volume of fraud in 2010 with 317 cases coming to court (with a value of almost £1.4bn), around 16% up on 2009.
The trends in 2010 continued to emphasis frauds perpetrated by organised criminals (being around 30% of the total cases but more than 50% of the total value) and by management (being around 20% of the total cases but more than 40% of the total value).
The chief victims of fraud were the Government (£571m), investors (£338m) and financial institutions (£267m) with the government seen as increasingly vulnerable in times of economic austerity.
Read the full text of KPMG's press release here.