UK: Annual Fraud Indicator

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Introduction

Fraud harms all areas of the UK economy. It impacts on organisations in the public sector, the private sector, the not-for-profit sector, as well as individual members of the public.
The National Fraud Authority (NFA) is an executive agency of the Home Office which works with partners to make fraud more difficult to commit in and against the UK.
The AFI 2012 is a compendium of fraud loss indicators drawn together to illustrate the scale, prevalence  and cost of fraud. In line with FFT, the AFI covers fraud against all types of victims in the UK. The AFI 2012 brings together existing estimates of fraud in the public domain and new estimates produced by the NFA and others. Each iteration of the AFI represents an improvement in the quality and quantity of data available to produce an estimate of fraud loss, which replaces previous attempts to quantify the scale of the problem. There are large gaps in knowledge about fraud, and methods to accurately measure fraud across the spectrum are in their infancy. This is because fraud is a hidden
crime. Fraud reported to the authorities is a small proportion of the fraud detected, which in turn is a fraction of fraud that remains out of sight.
The NFA strives to reveal this hidden fraud by working with stakeholders across all sectors, conducting comparative analyses of secondary sources and primary research in the form of surveys. The NFA seeks to estimate the full extent of fraud losses to a sector by extrapolating the trends identified in these surveys…

Detailed report link: here