Forensic Accountants to Lead Anti-Fraud Fight

Sandra Quinn, chief executive of a newly-established anti-fraud body, has appealed to forensic accountants to help it reduce fraud.

Fraud is estimated to cost the UK economy £14bn a year.  The National Fraud Strategic Authority, which is part of the Attorney General’s Office, has requested that forensic accountants who have investigated fraud in civil recovery cases had valuable experience to pass on.

The NFSA has already worked with the ICAEW when investigating mortgage fraud.  Last week the NFSA announced a 3 year strategy to combat fraud.  This includes the creation of a National Fraud Reporting Centre.

According to the Association of Chief Police Officers, fraud costs the UK economy in excess of £14bn a year.  This is expected to increase as the economic situation worsens and more companies are placed under greater pressure.

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