Wednesday, January 25, 2017

UK courts experiencing surge in cyber-crime case load

The total cost of fraudulent activity in the UK surpassed a billion pounds for the first time in five years, reaching £1.137bn in 2016 compared to £732m the year before.

Fraud against businesses was up sevenfold last year, with inside jobs committed by employees and management the most common method, as measured by alleged fraud cases reaching court.

"The figures include over £900m derived from just seven super cases," according to management consultants KPMG. "The surge in super cases, from £250m last year, may be a reflection of fraud becoming a more lucrative and practical proposition for those with the right skills and technology, or those in senior commercial roles."

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