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Archive Accountancy and Advisers Archive Fraud-free region one of safest places in UK to do business
Archive Accountancy and Advisers Archive Fraud-free region one of safest places in UK to do business | Fraud-free region one of safest places in UK to do business |
| Wednesday, 22 August 2007 | |
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The latest FraudTrack research from BDO Stoy Hayward in Cambridge shows that the East of England is one of the safest places to do business.
The region had only two reported cases of business fraud in the first half of 2007 totalling £350,000 – the second lowest amount in the UK after Northern Ireland with £139,107. These findings are in stark contrast to the rest of the UK, which shows businesses fraud totalling £538,390,541. The £350,000 reported business fraud in this region is also way below the reported £311,686,105 in the Midlands, the UK blackspot. The two reported cases in the East of England, compared with 47 in London & South East (the highest number in the UK) also emphasise the safety of the region’s business environment. Richard Shave, BDO Stoy Hayward fraud expert in the eastern region said: “Considering the growth of business in the region these results are promising. “However businesses in the East of England still need to be aware of the ever growing threat of fraud.” “When it comes to frauds against businesses, if you are discovered there is only a small chance of being prosecuted. “When a fraud is discovered, all but the very largest are not a priority for the police given their limited resources. “Businesses, not surprisingly, focus on getting the money back and protecting their reputations – so few of such cases, less than 15 per cent, result in a prosecution.” |
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