Mega Fraudsters Are Often NOT Held Responsible For Most of the Frauds.

The vast amount of fraud in most developed countries takes place from lots of people stealing more modest amounts from government and from large corporations. So whilst we may occasionally read about the $ multi-million losses perpetrated by individuals, this is comparatively rare.

There are many tens of thousands of people who steal $10 – $10,000 every day through false benefit applications, bogus grants, insurance claims, local authority claims, injury claims, stolen card usage and walking away from utility bills or internet orders. Oddly, the widespread deployment of IT systems to manage corporate fraud and corporate processes often makes business fraud easier, as fraudsters prefer such faceless processes to dealing with real people, thus making corporate fraud losses prevention difficult.

UKFraud is an independent fraud prevention organisation (under the leadership of Bill Trueman) which helps banks, corporates, insurance companies, telecommunication sector, and other organisations investigate, detect and prevent fraud to save millions.