UK Fraud Costing '£193bn a Year,' New Study Suggests

From BBC News

The annual cost of fraud in the UK has been estimated at £193bn - equal to nearly £3,000 per head of population - according to a new report.

Business fraud accounted for £144bn, the study by the University of Portsmouth said, while fraud against individuals was estimated at £9.7bn.

The last estimate - made in 2013 by the now defunct National Fraud Authority - put the cost of fraud at £52bn a year. Report author Prof Mark Button said fraud was now on an "industrial scale."

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