New fraud figures

The National Fraud Authority has released some new figures this week, which make interesting reading. Here is a link to their website, but in terms of some headline figures as to the extent of fraud in the year 2009-2010 see below. We suspect the figures will be even higher when they are available for 2010-2011 due to the prevailing economic conditions which are likely to increase fraud motivated by economic pressure as opposed to opportunistic or career criminal fraud. So, here are some stats from the report :-

• Financial services fraud totaled some £3.6 billion.
• nearly 87,000 people aged 66 and over were the victims of financial crime.
• Overall fraud estimated at over £38 billion, this being the figure being attributed to lost revenue for the UK as a whole; and including tax evasion fraud, thought to amount to over £15 billion and being the single biggest amount and type of fraud