Although the total frauds of this magnitude rose, the amount of money involved decreased. In 2022 there were 221 cases, with a total of £1.1bn while 2023 had slightly more cases (226) but the total value of the cases amounted to £992.9m, according to the KPMG Fraud Barometer.

London accounted for the highest number of cases and the largest amount of money. However, the northwest saw a significant rise in the value of fraud cases. In 2022 there was just £24.7m worth, this increased by almost £100m in 2023 to £122.1m. This was the second largest amount, after London.

The value of fraud cases over £100,000 in London also increased, to £701.4m, made up of 43 cases, up from £577.5m and 49 cases. However, this was due to a ‘single super case’ which accounted for £416m. 

Annet