Fraud levels see a record drop

The latest results from the KPMG Fraud Barometer have just been published and cover January to December 2020. The Fraud Barometer has been tracking fraud trends since the 1980s and the analysis of cases has continually identified trends in the types of fraud that have dominated the UK courts. The bi-annual Barometer identifies the latest fraud trends and patterns affecting the UK economy which helps businesses remain alert to new threats and respond to any fraud risks in an appropriate and proactive manner.

The drop in both the value and volume of fraud cases, is not reflective of a downturn in economic crime, but rather fallout following the COVID-19 lockdown restrictions on the courts. It is important for individuals and organisations to remain vigilant in their fight against fraud. 

Key highlights from the release:

• Fraud by value reached £724 million, down 36% compared to 2019.
• The volume of fraud decreased by 51% to just 180 cases.
• Procurement fraud rose 200% to £49 million.
• Loan and mortgage fraud increased 675% to over £75 million

Request a copy of our 30 year report. This report, released in 2017, looks back at the key macro-trends to have emerged since we first started collecting data in 1987. It looks back at how the fraud landscape has changed over the last three decades, and considers what the future fight against fraud may look like.