FraudTrack

FraudTrack has been produced by BDO since 2003 and is based on all reported fraud cases involving businesses of over £50,000.  Fraudtrack 6 examines the period from 1 December 2007 to 30 November 2008.  The data for 2008 represents 285 cases of fraud with a total value of £1.19.bn for the past year.

The sources for the database include: The Serious Fraud Office, the Department of Trade and Industry, the Metropolitan Police and the UK’s national, regional and local press.

"Click here to request a free copy of  fraudtrack 6"

Statistics

Reported fraud in the UK (over £50,000) has been steadily increasing since FraudTrack was first published in 2003.  There was a large increase in 2006, this was as a result of the number of tax frauds investigated and reported - totally over £600 million in 2006 alone.

The main motivation behind fraud continues to be greed and a desire for a lavish lifestyle.

The type of fraud has changed.  In 2005 instances of tax and employee fraud were high.  In 2006 and 2007 tax fraud continued to increase closely followed by management fraud.  By 2008 management fraud, third party fraud and employee fraud create the "triple whammy" accounting for 60% of all fraud in 2008.

The location of fraud is mainly in London and across the South East.  The Midlands experienced an unusual high in 2006 due to a large value tax fraud reported in the area.

Fraud is taken more seriously in the Courts; in 2008 the average custodial sentence increased by 16% compared to 2007.

For further information contact Tracey Kenworthy on 0113 204 1300 or Eniko Simon on  020 7893 3504 for further information.