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Company fraud on the increase

In a worrying turn of events it has been revealed that a record number of company directors from insolvent companies have been disqualified for financial crime. It seems that not only are the scammers and the fraudsters on the increase, but corporate embezzlement and other similar activities have mushroomed over the last few months. As more and more directors and employees become more and more desperate it would appear this particular downside of the recession has yet to peak.

It seems every day in the paper we hear about directors under investigation by the police, employees embezzling money and other similar activities which have caught the attention of the law. The size of these alleged frauds has also increased substantially over the last few months with people more willing to take chances for the larger amounts of money at stake. The financial distress in the, UK caused by the recession, has certainly hit home in many areas of business.

In every walk of life there is a growing need to be more vigilant of fraudulent activity which can have a significant detrimental impact upon local businesses and local people. Often seen as a crime which has no victim, embezzlement and other frauds can have serious consequences for people who may not even be involved in these actions.

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