ANTI-FRAUD SPENDING GROWING FROM LOW BASE – BUT LACK OF RISK ASSESSMENTS IMPEDES EFFORT

ANTI-FRAUD measures are expensive, and investment is growing from a low base yet surprisingly few companies keep tabs on the impact of fraud on their profit/loss margins. Annual fraud losses are estimated to cost the UK more than GBP193 billion (USD240 billion), according to the 2016 Annual Fraud Indicator report prepared by the Centre for Counter Fraud Studies at southern England’s University of Portsmouth in partnership with data services group Experian and accountants PKF Littlejohn. “No one knows the true cost of fraud in the UK, but it’s taking place ...


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