It may be austerity Britain for most of us, but fraud is clearly a booming UK industry, up 150% to a record £3.5bn, according to KPMG’s latest Fraud Barometer report.
Now in its 25th year, the report reveals that scams cooked up by companies’ own management teams rocketed by 74% to £729m.
There were some 57 cases of purported fraud by management in 2011, worth £729m, up from £420m the previous year, although the number of cases remained broadly the same as in 2010.
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