Reported fraud in the UK soars to more than £2bn
Reported fraud in the UK rises by 538% to £2.11bn in 15 years, with the financial services sector the worst affected.
Image: Olivier Le Moal / Shutterstock
The total value of fraud in the UK has risen by 538% to £2.11bn in the past 15 years, and was up by 6.5% in 2017 from £1.99bn in 2016, new research shows.
The study by accountancy firm BDO LLP, which examined reported fraud cases of more than £50,000, shows that the financial services sector was the worst affected.
The total value of fraud in 2017 in this area reached £899.7m, compared with £214.9m in 2016—a rise of 318.8%. The total number of fraud cases in the financial services sector also rose by 72.4% since 2016.
Another dramatic increase in 2017 occurred in the charity sector, with the value of fraud rising by more than
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