National Fraud Authority

Fraud: the £52 billion headache for business

It’s over a year since the home secretary, Theresa May, closed down the National Fraud Agency and transferred its duties in various directions, including to the National Crime Agency and the City of London police. One of the NFA’s last acts was to publish its annual fraud indicator showing that in 2014 fraud was costing the economy £52 billion a year, of which £21.2bn was to the private sector. Given that the agencie
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Tracing debtors is a vital tool in curbing fraud

How many business people have posted off their invoices for services rendered only for the envelope to be returned to sender marked ‘Not known at this address’ or ‘Gone away’? The answer, according to Cliff Poole of UK Search, is a growing number. Writing in CCR Magazine earlier this year, Poole said: ‘The problem of absconding debtors has escalated to such epidemic proportions that almost every creditor, lending com
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