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SFO confirm instances of fraud have increased lately

The serious fraud office is rumoured to be investigating at least two multi-million pound frauds which have come to light in the UK over the last few months. These cases have no association with the ongoing US investigation regarding the $50 billion investment fund pyramid scheme which recently collapsed. However, these two new investigations do reflect the increasing number of attempted frauds in the UK as the credit crunch continues to bite.

Those who follow the instances of fraud in the UK will note there has been a significant switch from individual frauds to corporate frauds with literally hundreds of millions of pounds at risk. It would appear there has been a distinct lack of investigation by many financial institutions in the UK into what are turning out to be calculated and well organised fraudulent activities. The problem with corporate fraud is the fact that in the end it always seems to be the consumer who pays the price with higher charges and more costly security procedures.

It must also be noted that it is not just the UK which has become a target for the fraudsters with many countries around the world also announcing significant increases.

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