Value of UK fraud breaks £1 billion barrier for the first time in 5 years

The latest results from the KPMG Fraud Barometer have just been published, and report that the total cost of fraudulent activity in the UK has surpassed a billion pounds (£1.1bn) for the first time since 2011. This increase has been driven in large part by a resurgence in “super cases” (where the value of alleged fraud is £50m or more), which has driven average fraud losses to double from £2.4m in 2015 to £5.2m in 2016.

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