Fraud prevention low priority for Private UK firms
Just 37% of private UK companies employ specialists to detect fraud, compared with a global average of 45% and 59%in the US, according to new research released as part of Grant Thornton's annual International Business Report.
Despite the low figures, just seven per cent of businesses said they had increased staff involvement in fraud prevention in the past 12 months, one of the lowest rates in the world. The number of people involved in anti-fraud activity has increased by 12% globally.
The survey covered 7,400 owners and senior managers in 33 countries, including 600 in the UK.
Phil Crooks, Head of Assurance Services at Grant Thornton, said it was a well documented fact that in times of economic downturn fraud
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