THE DEVIL ON RECESSION'S SHOULDER

摘要

As the recession takes hold, and a seemingly constant stream of negative economic news permeates our lives, fraudulent activity is positively booming.rnTotal reported fraud in the UK stood at £1.19bn for 2008, up 14% on 2007's figure of £1.04bn according to BDO Stoy Hayward's annual FraudTrack report. Fraud in the financial and insurance sector increased by an incredible 83% to £788m and accounted for 66% of all fraud in the UK.rnTougher market conditions increase the pressures and motives to commit fraud. Economic conditions during a period of reduced growth, such as we are currently experiencing, provide the impetus for fraudulent activity, but as businesses slim down, problem areas become increasingly visible, which makes it more likely that cases of fraud will be detected and dealt with.