Fraud Barometer

Business Fraud - The Growing Problem

Business Fraud – The Growing Problem

Small and Medium Sized Enterprises fear that they might be more at risk due to the financial crisis. An increase in fraud and other forms of financial crime is one of the unfortunate consequences of the current unstable financial environment across Europe, says John Davies, head of business law at ACCA (the Association of Chartered Certified Accountants) Citing recent figures from KPMG‘s Fraud Barometer, John Davies says there has been an increase in fraud cases – in the first half of 2009 over 160 cases of serious fraud, involving a total of £636 million, were brought before the UK courts: the highest 6-monthly figure in the 21 year history of the KPMG barometer. John Davies says: “It is a matter of concern that many businesses do not seem to be taking reasonable s... »