PwC

The changing face of fraud: how economic crime can affect your business

Economic crime is pervasive and affects our lives in more ways than we may care to think about. It might be through steeper insurance premiums, higher taxes or a series of transactions on our bank statement that we know nothing about.

Economic crime also shapes the way we do business and it creates risks for UK businesses operating overseas. So how can organisations protect themselves against it? Here we look at the results of our seventh Global Economic Crime Survey and assess how fraud in the UK has changed over the last few years.

While we’ve seen a fall in the number of UK organisations reporting economic crime in the last two years, the overall picture is far more complicated. We’ve seen a rise in the number of frauds committed by staff since 2011 and it’s harder than ever to predict where the threat may come from. As rises in the cost of living have hit, the number of junior staff engaged in frauds has also risen…

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