Fraud on the rise

Analysis of frauds recorded by Members of CIFAS – the UK’s Fraud Prevention Service during the first nine months of 2011, reveals some sobering trends taking place: Despite lower new business volumes, there has been an overall increase in fraudulent activity of nearly 3% compared with the same period in 2010, accounted for by increases in numerous types of fraud A 12% increase in frauds by account holders who are misusing their accounts Over a half of all frauds relate to the theft or misuse of personal and account information, and Economically pressurised individuals are increasingly trying to lie their way to products and services.

It is clear that both individuals and organisations need to be aware of the increased risk of fraudulent activity within their sectors and need to establish methods of combatting fraud. The current harsh economic climate will inevitably lead individuals to turn to fraudulent activity in order to generate income. If you suspect that fraud may be taking place within your organisation; be it from criminal groups or staff members, then employing a private investigation company can be an effective tool. Specialist PI have proven experiencing in tackling fraud within companies; contact us at enquiries@specialistpi.com or telephone 0845 099 0122.

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