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.”