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Over half of all businesses have been defrauded

Over half of all businesses have been defrauded
Over fifty per cent of UK businesses have at some stage been defrauded, according to a new survey for the personal finance expo the Credit Show.

The survey found that 23 per cent of businesses report they have lost a figure between £1,000 and £100,000 over the course of a year.

Meanwhile, of those that had reported the crime, it was shown that 30 per cent had been the victims of their customers while 25 per cent had suffered at the hands of their own employees.

Speaking at Credit Show, Kelly Stanley said: "It seems that the majority of companies suffer from at least some low-level fraud, but the most worrying thing is the large number of businesses with little or no measures in place to spot fraud.

"Indeed, six per cent of the companies surveyed admit they have "turned a blind eye" to fraud in the past, with half of those believing that the crime was either too small, or would be too expensive, to prosecute. The worry is that they will have missed many more scams or fiddles, which in total could be a major financial loss," she added.

Credit Show's survey comes in the week that a police report estimated that the country loses up to £20 billion from fraud every year.