The Financial Cost of Fraud 2021

For many organisations, fraud is a problem that can be tackled. The Financial Cost of Fraud report reveals that losses can be, and have been, reduced by up to 40% within 12 months. It is estimated that, were organisations in the UK to correctly measure and introduce measures to reduce fraud, savings of up to £55 billion could be made annually. This sum is greater than what the UK government has spent on defence in 2019-20. 

Read the full report for more on:

• what the current cost of fraud is
• data from around the world
• types of income and expenditure and the nature of the figures
• fraud and error losses
• the position since COVID-19
• our conclusions and recommendations.