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Crowe report highlights staggering £130 billion annual cost of fraud in UK plc

Fraud is costing businesses and individuals in the UK £130 billion each year. The Financial Cost of Fraud Report 2019, developed by national audit, tax, advisory and risk firm Crowe in conjunction with the Centre for Counter Fraud Studies at the University of Portsmouth, also...
Posted On 11 Jul 2019
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Tackling Economic Crime Awards launched to honour security and law enforcement professionals

Economic crime has a significant impact on the UK;s economy, with – according to the Office for National Statistics – an estimated 3.24 million fraud offences taking place in the year ending March 2018. Organised by the World Excellence Awards team who also run the...
Posted On 01 Mar 2019
Professor Mark Button
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University of Portsmouth’s Centre for Counter Fraud Studies to host Economic and Industrial Espionage Conference

Economic and industrial espionage are significant issues for many organisations, with episodes causing billions of pounds of economic damage to countries around the world. Figures on the costs vary significantly, but it’s clear the losses are staggering and, in the US...
Posted On 02 May 2018
Professor Mark Button
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Annual Fraud Indicator 2017 highlights UK footing £190 billion annual fraud bill

The annual cost of fraud in the UK is £190 billion, which is equal to around £10,000 per family. That’s one of the main findings of the Annual Fraud Indicator 2017 published by Crowe Clark Whitehill and developed in conjunction with both Experian and the Centre for Counter...
Posted On 13 Nov 2017
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“Fraud costing UK’s economy £193 billion per annum” reveals Annual Fraud Indicator 2016

According to a new report, the annual cost of fraud in the UK could be as high as £193 billion per annum. This assertion dwarfs previous estimates produced by the UK Government which put the figure at around £50 billion back in 2013. The Annual Fraud Indicator 2016 has been...
Posted On 26 May 2016
UK businesses typically lose around 5.6% of their total expenditures to fraud
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“40% of annual £103 billion loss to fraud at FTSE companies can be stopped” states PKF Littlejohn report

Research results published by counter fraud specialists indicate that UK businesses typically lose around 5.6% of their total expenditures to fraud. The £103 billion figure is equivalent to 75% of those businesses’ total profits. PKF Littlejohn partnered with the Centre for...
Posted On 24 Sep 2015