UK fraud cases are on the rise

Marion Dakers
WHITE collar crime has risen sharply in the first half of the year, research out today claims.

The Crown Courts heard 148 fraud cases worth at least £100,000 each in the period, according to KPMG, up from 136 a year ago. The value of these cases was £516m, compared to £374m in the same period last year.

The total fraud bill remains well below a peak of £2.4bn seen in late 2011. KPMG said there is a surge in supply chain fraud – worth £61m, based on the cases making it to court.

Frauds against investors are also in the ascendency, with cases in the justice system worth £74m, up from £19m. “With pensions, traditional investments and incomes squeezed at the same time as inflationary pressures driving up costs, people are feeling compelled to seek alternative ways of growing their savings to maintain lifestyles,” said KPMG forensic partner Hitesh Patel.

The National Fraud Office estimates that Britain’s economy loses £52bn a year to fraud.