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Each and every business in the UK is a potential target for financial crime. No matter how you might attempt to sugar coat it – “We’re too small”, “We’re too large”, or even “We would never fall for that” – no business is ever completely immune to threats of financial crime like fraud.
Anti-money laundering service, SmartSearch, has reviewed 10 of the most lucrative fraud and money laundering cases in recent years, and provides advice on what businesses and individuals can learn from these.
When Fraud Magazine debuted its first list of scandalous fraud cases last year, names like Theranos, 1MDB and Danske Bank were all over the news for their notorious schemes. It’s hard to believe that anything could top these costly and infamous cases, but, sadly, fraud never seems to be on the decline.
Analytics software firm FICO has released its annual interactive European Fraud Map, which shows that the UK’s card fraud losses hit a record £671 million in 2018. The data from Euromonitor International and UK Finance compares these losses against previous years and 18 other European countries.
The number of white collar crime prosecutions in the UK has fallen to its lowest level in five years, according to figures published today.
The UK accounts for almost half of the entire sum that was lost across 19 countries surveyed for the report.
Recent research found that one in five adults have fallen victim to fraud in the past twelve months, losing an average of £1,000 per person.
The Real Cost of External Fraud by Professor Mark Button, Dr David Shepherd and Dr Branislav Hock, Centre for Counter Fraud Studies. The University of Portsmouth.
ACI Worldwide has reported that fraud attempts will rise during the holiday shopping season, with click and collect fraud being the fastest growing fraud trend globally.
Over a fifth (21%) of UK adults have had their payment card cancelled or replaced as a result of attempted fraud during the past 12 months, according to research by comparethemarket.com.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014