Warning to Companies as a Rise Is Seen in Fraud Cases; KPMG Says Figures Could See a Bigger Leap When Credit Crunch Offences Start to Emerge

Byline: Sion Barry

LEVELS of fraud in Wales have reached the highest levels since 1995, new figures show.

According to research from KPMG, more than pounds 64.6m of fraud reached the courts in the Wales and the south-west of England in 2008, according to the firm's Forensic's Fraud Barometer - the third highest total in the region in the 21-year history of the survey The barometer, which measures major fraud cases coming to court where the charges are for pounds 100,000 or more, show the total value was more than 12 times greater than in 2007 when cases were worth pounds 5.3m. The number of incidences has also increased significantly with a total of 33 cases recorded throughout the year, almost twice as many as in 2007 when 17 were heard.

In Wales alone, pounds 48.7m worth …

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Publication information: Article title: Warning to Companies as a Rise Is Seen in Fraud Cases; KPMG Says Figures Could See a Bigger Leap When Credit Crunch Offences Start to Emerge. Contributors: Not available. Newspaper title: Western Mail (Cardiff, Wales). Publication date: February 2, 2009. Page number: 33. © 2009 MGN Ltd. COPYRIGHT 2009 Gale Group.

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