Spurt in major frauds crimes |
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Mon, 25 Jul 2005 11:05
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LONDON: There is a 13 per cent increase in major fraud cases represented before courts in Britain in the first six months of 2005, according to a study by management consultancy KPMG LLP. The number of cases went up to 88 from 78 a year earlier and the total value tripled to 250 million pounds the study revealed.
The agency pointed out that there is a surge in fraud cases committed with a view to lead luxury lifestyles, drive fast cars and go on expensive holidays. The cases included identity and lifestyle thefts. Also, the trend, according to Jeremy Outen, partner at KPMP Forensic, "shows an extension of this type of deception through inventing qualifications and pure identity theft.'' The government has itself been a major victim, in 22 cases, losing 177 million pounds.
The study also said most of the frauds had taken place in London and the southeast (78 per cent). In the last five years, such cases that come up before the courts have trebled, while corporate frauds
accounted for more than 38 million pounds. The consultancy, which has been preparing the forensic fraud barometer during the last 15 years, underlined the role of technology in helping companies detect frauds. It cited two typical instances -- a person staying in hired premises attempted to sell the property for 500,000 pounds posing as the owner, and a general practitioner in Harley Street claimed he is a heart specialist and an expert in anti-aging treatment and cheated victims for more than 100,000 pounds.
U.K. laws describe major fraud as a case filed before the Crown Courts and where the charges are higher than 100,000 pounds.
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