Tightening budgets uncover the cheats

A RISE in insolvencies has been accompanied by an increase in fraud over the last six months.

According to a survey by R3, the insolvency trade body, more than 39 per cent of members have seen an increase in corporate fraud cases, and 33 per cent have seen an increase in personal fraud.

Matt Dunham, R3’s regional chairman said: “In the last few months cases have come to light where someone has been extracting money for a number of years and it’s the scrutiny of cost-cutting exercises which has revealed the crime.”

Increases in personal and corporate fraud tend to feed off each other.