The number of civil fraud cases heard in the courts has increased by 50 per cent in a year marred by the pandemic according to new analysis published today by international law firm RPC.
Cases in the courts of England and Wales went up from 61 in 2019 to 94 in 2020.
RPC blamed the impact of Covid-19 on the economy as traditionally more frauds are discovered during periods of economic stress, the law firm said.
It also warned that further increases were likely to follow in the coming years as the full impact of pandemic the economy is felt.
The head of civil fraud at RPC, Andy McGregor, warned that the spike in cases “could just be the tip of the iceberg”. McGregor was more optimistic about the prospects of the English High Court in such a climate though.
He said: “The English High Court has long been recognised as the leading jurisdiction for proving fraud claims due to the quality of its judiciary and certain procedural advantages. There is no sign of that reputation waning over the coming years.”
The findings came from analysis by RPC, the London-based international law firm, and litigation analytics company Solomonic.