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White collar fraud on the increase

In a sign of the times it has been revealed that a record £1.3 billion of white-collar fraud was the subject to court action in 2009. This is the highest figure for over 20 years and brings the total involved in white-collar fraud over the last decade to over £7 billion. When you consider that "just" £5 billion of similar fraudulent activity reached the courts in the 1990s this is a perfect example of the changing times and changing environment in the UK.

These figures were compiled by KPMG and many believe yet could literally just be just the tip of the iceberg with the recession prompting more and more employees and employers to look for alternative income. We have also seen a massive change in the way in which frauds are carried out and it is taking more and more resources away from the UK government to track and bring the alleged perpetrators to the courts.

Fraud is a problem in all areas of UK society at the moment, from the cold calling salesperson who requests your banking details to ongoing fraud within some of the U.K.'s largest financial and non-financial companies. More than ever we need to be vigilant and aware of the potential problems of fraud which can ultimately ruin lives and ruin businesses.

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