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Fraud Updates
PCB News
Fraud Updates 2006
3 August
Figures released by accounting firm KPMG have indicated that insider frauds have surpassed organised criminal activity as the most prevalent form of fraud in the UK economy, for the first six months of 2006. These frauds are usually perpetrated by trusted senior managerial staff.
Whilst, there has been an increase in the number of criminal prosecutions, the figures demonstrate that insiders are prepared to take this risk because the financial gains to be made outweigh it.
The motive for these frauds is money. If the victim seizes the fraudster's assets, then not only can it recover losses but it will also act as an effective deterrent in the future.
| October 2006 | June 2006 |