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UK fraud costs £600 per member of the population!

Figures revealed by the National Fraud Authority suggest that fraudulent activity in UK is costing each and every person in the country around £600. It is estimated that fraud accounts for £30 billion of losses each and every year with the vast majority coming from tax scams while around £10 billion is lost in the private sector. But how accurate are these figures?

Despite the fact that the newly created National Fraud Authority has been very specific regarding fraudulent activity and the cost to each and every person in the UK, many people believe the ultimate cost is far greater than the £30 billion suggested. It is well known that many people fall for "simple scams" which are too good to be true and many of these victims are embarrassed or scared of going to the police. As a consequence it is highly likely that the figures we see today are severely underestimated compared to the "real cost" to the UK.

It is hoped that the National Fraud Authority will be able to highlight and publicise the ongoing threat of tax scams and other fraudulent activity in the UK. Fraud in the workplace has increased during the UK recession as more and more people become more and more desperate to service their debts.

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