Google+ LinkedIn YouTube RSS

Employees and general public 'more likely to commit fraud'

Employees and general public 'more likely to commit fraud'

Companies in the UK may need to improve their security systems as employees and the general public become more likely to commit fraud.

A survey by KPMG has revealed that financial pressures are weighing on people's budgets and they are more open to committing fraud.

Identity fraud more than doubled during 2012 to be valued at £26.3 million, while British firms blamed insider fraud by either staff or management for 80 per cent of their fraud-related financial losses in the past 12 months.

"What we are seeing is individuals looking to feather their nests through ripping off employers, banks or the government," said Hitesh Patel, UK forensic partner at KPMG.

He explained that even though times are much tougher in the UK following the financial crisis, many people are unwilling to give up on the lifestyle that they are accustomed to.

However, the research did suggest that the number of fraudulent activities carried out by professional criminals fell - from 98 in 2011 to 79 in the last year.

Checkatrade information for Secom Plc View more

More from Commercial