Fraud cost UK £30 billion last year, says study
The annual cost to the UK from fraud has reached £30 billion, according to a report released this week by the country’s National Fraud Authority (NFA). The government agency’s figure includes the full range of frauds committed against businesses, consumers and the government.
The financial services industry suffered the highest loss of all business sectors, with a fraud loss estimated at £3.8 billion; including £1 billion of mortgage fraud and more than £2 billion of fraudulent insurance claims.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Economics
Webinar – Nowcasting the US economy
Join CME Group Chief Economist, Blu Putnam, as he shares insights using alternative data and nowcasting to monitor developments in the US economy.
Fed Funds Futures in a Post-ZIRP World
As the FOMC returns to more active management of its key target rate, Federal Funds futures have experienced dramatic growth.
Challenging economic pessimism: an optimistic note
A contrarian, upbeat view of the long-term economic outlook
Economists, like hedge fund traders, need open minds
Economists, risk managers and traders must learn the lessons of crisis, says Kaminski
Fed wrong not to start QE tapering, says UBS economist
The surprise decision by the Federal Reserve last month not to scale back its quantitative easing programme will create more volatility, says economist
IMF's Blanchard warns Europe could drag world economy down
IMF chief economist says ‘three-speed’ global economy could be dangerous
