The Financial Cost of Fraud 2021
For many organisations, fraud is a problem that can be tackled. The Financial Cost of Fraud report reveals that losses can be, and have been, reduced by up to 40% within 12 months. It is estimated that, were organisations in the UK to correctly measure and introduce measures to reduce fraud, savings of up to £55 billion could be made annually. This sum is greater than what the UK government has spent on defence in 2019-20.
Read the full report for more on:
- what the current cost of fraud is
- data from around the world
- types of income and expenditure and the nature of the figures
- fraud and error losses
- the position since COVID-19
- our conclusions and recommendations.