Fraud in Britain has risen by more than 500% over the last 15 years, while the latest data available has revealed a 6% increase in major scams over the course of 2017. Financial services saw the largest sectoral glut of fraudulent activity, meanwhile, boasting a bill of just under £900 million.
In 2016, the total value of reported fraud hit a five-year high, increasing 31.5% to just under £2 billion. The spike came in spite of the number of reported cases falling slightly from 519 in 2015 to 504 in 2016, as the average value of fraud cases rose 35.4% to a five-year high of £3.9 million. Now, BDOs annual FraudTrack figures have shown that while the rapid expanse in the value of fraud has slowed, it still increased at an alarming rate i…
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