Cyber Drives UK Fraud Losses to £125 Billion

43% increase in fraud since 2008.

By Phil Muncaster

Fraud now costs UK organizations a staggering £125 billion each year, with cyber playing a part in most incidents, according to accountancy and audit giant Crowe Clark Whitehill.

The firm teamed up with the University of Portsmouth’s Centre for Counter Fraud Studies (CCFS), reviewing 19 years’ worth of data to compile The Financial Cost of Fraud 2017 report.

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