Bankrupt Banker: London fraud jumps to highest in 20 years

London fraud jumps to highest in 20 years | Business

London fraud jumps to highest in 20 years | Business: "level of fraud in London hit its highest level in more than two decades last year, with the average case now worth more than £7.5 million. 
 
The annual Fraud Barometer, published today by accountancy group KPMG, showed that 80% of the UK's fraud took place in the capital last year. 
 
The aftermath of the recession triggered a 33% jump in the number of cases, up to 143 in 2010 from 107 the previous year. 
 
<a href="http://www.amazon.com/BIG-Master-Guide-Interviews-ebook/dp/B001XURY9Q?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="BIG 4 Master Guide to the 1st and 2nd Interviews" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B001XURY9Q&tag=cosdelcri-21" /></a>Hitesh Patel, KPMG<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B001XURY9Q" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> forensic partner, said: “Fraudsters are becoming increasingly sophisticated, focusing on the big institutions where a successful hit can see them walking away with large amounts of cash.” 
 
Some of the biggest cases of the year included a gang of Ukrainian builders who netted £8 million in fraudulent tax rebates and spent the cash on prostitutes, top-marque cars and riverside apartments before being sentenced to six years in prison."

London fraud jumps to highest in 20 years | Business

London fraud jumps to highest in 20 years | Business: "level of fraud in London hit its highest level in more than two decades last yea...