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Fraud nears record levels in 2008

Discussion in 'General Discussions and Lounge' started by temi, Feb 2, 2009.

  1. temi

    temi Facilitator Webmaster

    More than £1bn worth of fraud cases were heard at UK courts last year, the highest level since 1995, according to a survey from consultancy KPMG.
    This is the second highest level of fraud in the 21-year history of the firm's Forensic's Fraud Barometer.
    The value of mortgage fraud cases was £36m, almost 10 times higher than the £3.7m recorded in 2007.
    But worse is to come, warned KPMG - most of the fraud committed since the credit crunch has yet to come to court.
    KPMG warned that mortgage fraud would become "more visible" as property prices continue to fall and lending remains tight.
    Worsening trend

    fulls story

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