Fraud Risk Increasing in the UK's Public Sector

According to accountants at PricewaterhouseCoopers, public sector fraud in the United Kingdom is increasing.

Posted by Joe Gerard in Article on July 16th, 2010
UK Public Sector Faces a Growing Fraud Risk- HeraldScotland

According to accountants at PricewaterhouseCoopers, public sector fraud in the United Kingdom is increasing. The article discusses the evidence supporting the increase in fraud over the past year and the reasons why it’s believed fraud will continue to increase.

In the article, they include results from the PricewaterhouseCoopers report “Fraud in the Public Sector,” in which the results show:

  • “More than half of the UK respondents (52%) said their organization had suffered economic crime in the last 12 months compared to a global average of 32%.
  • Of these, 80% reported mis-appropriation of company assets and 4 in 10 cited incidents of financial statement fraud.
  • Both of these measures are markedly higher in the UK than the global average, PWC said. A majority also said they thought economic crime in their organizations has risen in the last 12 months.”

Joe Gerard
Joe Gerard

CEO, i-Sight

Spend my days showing off the i-Sight investigative case management software and finding ways to help clients improve their investigations. Usually working with corporate security, HR & employee relations, compliance and legal teams.

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