02/02/2009 - Fraud cases reach 13-year high
More than £1 billion worth of fraud cases were heard at UK courts last year, the highest level for 13 years - and it is expected to get worse.
According to KPMG's Fraud Barometer, the £1.1 billion cost of fraud is the second highest level since the survey began 21 years ago.
Figures show fraud by company managers, employees and customers trebled to £300 million last year, while crime by professional gangs remained at the "extremely high" levels.
The survey found managers were responsible for £128 million of fraud and employees for £100 million, while customers were responsible for £65 million.
But the group has warned the recession will lead to a surge in fraudulent crimes and also the unmasking of crimes carried out during the boom years.
Financier Bernard Madoff, 70, is currently being investigated in America for allegedly taking £35 billion (50 billion US dollar) from investors in a giant Ponzi scheme.
Hitesh Patel, fraud investigation partner at KPMG Forensic, said: "These figures are bad enough in themselves, but I fear the trend for the next couple of years will be even worse."
Copyright © Press Association 2009
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