By Rob Miller
Forensic accountant and expert witness specialising in offering expertise on POCA, cryptocurrency, and financial dispute matters.
Updated September 2023 | 1 min read time
The National Fraud Authority publishes its Annual Fraud Indicator each year. In the latest version it estimates that fraud cost the UK economy £73 billion.
This is broken down as £45.5 billion in the private sector, £20.3 billion in the public sector, £6.1 billion to individuals and £1.1 billion in the not-for-profit sector.
Yet small and medium sized businesses continue to ignore the risk of fraud and brush it under the carpet. In the current economic climate, can businesses really afford to continue to overlook it?
Simple to changes to internal controls can significantly reduce the risk of a fraud occurring.
For a free no obligation discussion on fraud prevention, contact Rob Miller at rob.miller@inquestaforensic.co.uk.
