Fraud cases expected to worsen

03/02/2009

The number of fraud cases seen in UK courts is expected to increase, says professional services firm KPMG.

The company's Forensics Fraud Barometer has revealed the value of fraud cases reaching court last year topped £1.1 billion.

Hitesh Patel, fraud investigation partner, says the recession could lead firms to monitor their operations more closely and highlight an increasing number of crimes.

"Already though, the signs are there - globally in the last 12 months alone at least three alleged multi-billion pound frauds have been uncovered," Mr Patel said.

KPMG's research showed fraud by professional gangs remained at a high level, however there was also "a marked increase in fraud by individuals".

The Chartered Management Institute's recent report into workplace fraud revealed almost half of the firms it quizzed had been victims of fraud.

Employees found guilty of fraud or stealing from their employer could find themselves out of work, following disciplinary procedures.

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