Over 160 cases of serious fraud with charges in excess of £100,000 came to UK courts in the first half of this year, according to KPMG Forensic - the highest number of cases in a six month period in the 21 year history of its Fraud Barometer.
Record number of fraud cases in first half of 2009 . Highest number of cases in 21 years of KPMG's Fraud Barometer . Over £630m of fraud by value in the courts . Professional fraudsters target investors . Managers take £150m from their employers
The cases had a total value of £636m which, if replicated in the second half of the year, would also lead to the highest value of fraud in the Barometer's history (currently £1.2bn in 1995).
Professional gangs were the most active perpetrators of fraud, with 70 cases worth some £450m, and their main victims were investors, who suffered to the tune of £320m. Much of this stemmed from a £200m investment fraud case involving the attempted fraudulent sale of the Ritz hotel in London. Company managers were also active perpetrators, responsible for £150m of fraud against their own employers in 32 cases.
See full Press Release.
Posts
