The latest results from the KPMG Fraud Barometer have just been published and provides an analysis of UK fraud cases in 2022.

The bi-annual Barometer is based on media-reported frauds and helps businesses remain alert to new threats and respond to fraud risks in an appropriate and proactive manner.

It is the longest running survey of its kind in the UK, with data spanning over 30 years. It considers major fraud cases, as reported in the media, being heard in the UK’s Crown Courts, where charges are in excess of £100,000.

Key highlights:

  • Total value of alleged fraud reaching UK Crown Courts in H1 2022 was £532.6 million, an increase of 288 percent compared to £137.4 million in H1 2021
  • The General Public was the group scammed most by volume, with 47 cases seen in UK Crown Courts in the first half of the year
  • Fraud cases against Financial Institutions was the highest by value at £305.2 million in H1 2022, a jump of 4,333 percent compared with the same period in 2021

Fraud cases continue to stack up and UK Crown Courts are struggling to make headway in prosecuting these criminals. A positive announcement of a new Public Sector Fraud Authority was announced in the Spring Statement, with a funding injection of £24.7 million to crack down on criminal gangs who rip off the taxpayer. But if it takes years for fraudsters to be prosecuted because of the case backlog, it will be some time before the impact of this initiative is felt.

Roy Waligora,
Partner and Head of UK Investigations
KPMG in the UK

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