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Scotland bucks trend for mortgage fraud

Mortgage fraud in the UK quadrupled in the first six months of 2010 although it appears that the trend may be very different in Scotland. Figures from KPMG indicate that only six cases were brought before the Scottish courts, with a combined value of £3 million, against 12 cases with a value of £19.5 million in the first half of 2009. So is Scotland bucking the trend?

While there's no doubt that the current situation in Scotland is very different to that of the overall UK it is very dangerous to become complacent and suggest that the threat is over. Despite the fact that we have been in difficult economic times for nearly 3 years now it does take some time for mortgage fraud, and other types of fraud, to be uncovered. There is every chance that fraudulent activity instigated at the height of the recession may well come to the fore over the next 12 months and could actually see an increase in convictions in Scotland and around the UK.

Unfortunately fraud is very often associated with difficult economic situations, such as that seen in the UK over the last three years, as companies and individuals struggle to make ends meet and become more and more desperate.

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