Fraud profiles get younger
Fraud cases totalling £317 million were recorded in the first half of 2014, according to KPMG’s latest Fraud Barometer.
The figure represents a 39% drop compared to the same period last year, but the number of frauds has remained constant.
The data also suggest organisations have failed to spot a “changing of the guard” as the profile of fraudsters shifts from rogue senior executives to younger individuals funding extravagant lifestyles.
Analysis of the cases going through British Crown Courts since the start of 2014 shows that frauds committed by those aged 26-35 were valued at just over £62 million – an increase of 285% on the first half of 2013.