KPMG report highlights rise in UK fraud.

UK fraud levels hit a record high in the first half of 2009, figures show, on a CIMA website article

It reads:

KPMG’s Fraud Barometer has revealed that more than 160 cases involving sums in excess of £100,000 passed through UK courts during this period - the highest number in the barometer’s 21-year history.

The total value of cases was £636 million and if this figure is replicated in the second half of 2009, this would lead to the highest value of fraud ever recorded by the index.

However, Hitesh Patel, partner at KPMG Forensic, warned that there is worse to come.

He said: “It will be a number of years before the impact of the recession fully feeds through into the fraud statistics.

“Hard times mean more people driven to fraud by personal pressures, and more investors willing to believe in cooked up investment schemes.”

Internal fraud also remains a major risk, Mr Patel added.

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