19 January 2017
Levels of reported fraud in financial services fell last year but rose in the public sector, according to the latest BDO FraudTrack analysis. In financial services, reported fraud fell in value more than 62%, from £567m in 2015 to £215m in 2016, and from 70 cases to just 58. Some 150 cases worth £1.4bn happened in the public sector, compared to £450.9m in 114 cases reported in 2015. However, the rise is largely due to a single £1bn VAT “carousel” fraud involving a woman from York.
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