Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Recruitment & retention
    • Wellbeing
    • Occupational Health
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Recruitment & retention
    • Wellbeing
    • Occupational Health
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise

Employment lawHR practice

White-collar fraud increases by 76% costing employers more than £2bn

by Personnel Today 11 Jan 2010
by Personnel Today 11 Jan 2010

Levels of white-collar fraud have increased by 76% in 2009, with more than £2bn going missing, as managers take a closer look at figures during the recession.

The figures published by accountancy firm BDO revealed 2009 saw the steepest increase in white-collar fraud since the company began reporting the data seven years ago, with the average value of each fraud now more than £5m, compared to £1.8m in 2003.

BDO said management fraud was up 48%, and that the best sales staff often turned out to be the “best fraudsters”.

But BDO warned the levels of fraud could treble over the next two years, the Guardian has reported.

Simon Bevan, BDO’s head of fraud, said: “Based on my experience of the two previous recessions, I expect that reported fraud will treble over the next two years. There has always been a lag effect, with reported fraud continuing to rise for at least a couple of years after businesses start to come out of the recession.”

Fraud in the financial sector increased by 70% to £1.34bn, but BDO estimated 90% of larger frauds in the sector were not reported.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

According to the survey, most fraudsters were aged 20-39, and the vast majority – nearly £1.8bn – was in London and the South East.

In total, 81% of frauds were carried out to fund a more lavish lifestyle.

Personnel Today

previous post
Default retirement age should be scrapped, says equalities minister Harriet Harman
next post
Council electrician paid £124,000 a year as female staff fight for equal pay

You may also like

MPs reject Lords’ amendments to Employment Rights Bill

16 Sep 2025

Failure to prevent fraud: Only 29% training staff...

16 Sep 2025

Employment lawyers voice AI fears on tribunal claims

15 Sep 2025

Day one rights to make 86% more cautious...

14 Sep 2025

Employment Rights Bill U-turn unlikely, say legal experts

10 Sep 2025

Day one rights in the Employment Rights Bill...

10 Sep 2025

Bigger budgets, but greater scrutiny – welcome to...

9 Sep 2025

Personnel Today Awards 2025 shortlist: HR director of...

9 Sep 2025

Reshuffle sparks fears over Employment Rights Bill

8 Sep 2025

How to manage workplace investigations effectively

5 Sep 2025

  • Workplace health benefits need to be simplified SPONSORED | Long-term sickness...Read more
  • Work smart – stay well: Avoid unnecessary pain with centred ergonomics SPONSORED | If you often notice...Read more
  • Elevate your L&D strategy at the World of Learning 2025 SPONSORED | This October...Read more
  • How to employ a global workforce from the UK (webinar) WEBINAR | With an unpredictable...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits Live
Employee Benefits
Forum for Expatriate Management
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Recruitment & retention
    • Wellbeing
    • Occupational Health
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise