Current Fraud Trends

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 …

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Fraud Review

To help your company assess its risk of fraud, Inquesta has developed a FREE Fraud Health Check.

To complete the Fraud Health Check, go to www.inquesta.co.uk/go/fraud

 

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FREE FRAUD HEALTH CHECK

In the last few days, CIFAS, the UK’s Fraud Prevention Service announced that fraud committed by staff increased by 14.5% in 2011 compared to 2010.

A quick search over the internet highlights this. By searching for “employee fraud UK” we found the following headlines over only a 5 day period:

Former employee defrauded housing association (21 June 2012)

Bride who stole £200,000 for lavish wedding jailed for 20 months (20 June 2012)

Man jailed for multi-million pound scam (22 June 2012)

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What is a Forensic Accountant?

What is a forensic accountant?

I am often asked what I do, the answer to which of course is “I am a forensic accountant.”. The general  response to that is “oooh that sounds interesting…..” followed by “but what does that mean?”

The simple answer is that a forensic accountant deals with any form of dispute which involves a financial loss.

A forensic accountant regularly works with solicitors and barristers either on civil or criminal matters.

Civil matters tend to involve some sort of financial …

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Suspect a fraud?

SUSPECT A FRAUD? – CALL US NOW

If you or one of your clients suspects a fraud within your organisation, you should call us as soon as possible.

With current government austerity measures and a double dip recession, the existence of fraud has increased significantly over the past year and can be a major cause of business failure.

Historically, fraud losses could have been hidden by strong profits, however in the current economic climate every penny counts and we are seeing an increase …

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Modern Warfare: The fight against financial crime

In an increasingly fragile economic environment, and due to a recent upsurge in reported fraud, corporate and personal reputations are potentially at stake more than ever before.

As the impact of fraud and accounting irregularities to a company can now run into millions, it is increasingly important to react quickly and appropriately in order to limit the impact, both financial and reputational, safeguard assets and improve the stakeholders’ chances of recovering their assets.

At Inquesta we offer a Director led independent investigation …

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