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:
- The total value of alleged fraud over £100k reaching UK Courts in 2022 was £1.12bn, an increase of 151% compared to £444.7m in 2021
- The volume of cases has however fallen by 27% from 298 in 2021 to 219 in 2022
In 2022, we saw the total value of fraud in the UK return to pre-pandemic levels as a few high value cases boosted the numbers. This comes as professional criminals have continued to attempt to line their pockets with high value fraud against financial institutions and their customers
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