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Money lost through fraud in Wales this year already exceeds 2017

Credit: PA

Losses caused through fraud in Wales this year already exceeds those in 2017, according to a new report.

KPMG's annual Fraud Barometer report, which measures alleged fraud cases with losses of £100,000 or more, showed a loss of £9 million so far this year.

The barometer has been tracking fraud trends since the 1980s and analysis of cases has continually identified trends in the types of fraud that have dominated courts.

Following a reduction in alleged fraud cases in Wales in 2017, this year has seen a return to the overall trend of an increase in the number of cases coming to court.

In addition, the rise in fraud with an international element is consistent with the national trend, and highlights the need for businesses to consider risks and respond to fraud in a global way.

– Damian Byrne, Forensic Director at KPMG