UK Fraud - £20 Billion a Year!
08 March 2007
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Fraud costs this country £20 billion per annum, a police document disclosed yesterday.
That's almost £1 a day for every adult and child in the UK.
The public sector is the greatest target, subjected to scams amounting to £6.4 billion.
Banks and insurance companies are other losers to the tune of £1 billion, whilst the expense overall to the business industry is nearly £4 billion.
The public are also being hit by identity theft and other cons to the sum of £2.7 million a year.
The Association of Chief Police Officers' report has decided to show the crime figures. Commissioner Mike Bowron is quoted as saying in the Mirror newspaper:"Once people dreaded being burgled, now they're worried about identity fraud.
"Gone is the idea fraud is a victimless crime."
The Government is about to reveal proposals next week for a "national fraud reporting centre."
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