Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Fraud Losses Reach Record £1Bn In U K

Recommended Posts

http://www.bbc.co.uk/news/business-10682850

19 July 2010 Last updated at 11:30

Fraud losses reach record £1bn in UK

Fraud doesn't necessarily go up in a downturn but more effort is spent on uncovering it

One of the world's largest accountancy firms says fraud has hit a record of £1bn in the first six months of the year.

The findings come from accountancy firm BDO, which has been monitoring fraud levels for the past seven years.

The main types of financial crimes, says BDO, include mortgage fraud, under-reporting of revenue and VAT avoidance.

Mortgage fraud now accounts for 20% of all reported cases.

And of course not forgetting the kingpins of fraud in this country: the Banksters.

IMO, there is more scams and corruption among businesses in this country than ever. Even the Revenue are at it charging to call them with their 0854 rip-off lines. Contracts that are indecipherable when you get a mobile phone or sign up for internet.

We live in a rip-off society and it needs cleaning up or we will become just another banana republic with our streets full of blaggards and cutpurses.

Share this post


Link to post
Share on other sites

I watched the banks THROW money @ every bulsh*ter, ponzi, lier for the last 5-10 years & NOW they wake up?

Mike

Share this post


Link to post
Share on other sites

I watched the banks THROW money @ every bulsh*ter, ponzi, lier for the last 5-10 years & NOW they wake up?

Mike

And yet most fraud investigations are on the over £5m bracket....that is unless they just stumble on it. The authorities cannot keep up. No wonder people carry on doing it.

Share this post


Link to post
Share on other sites

http://www.bbc.co.uk...siness-10682850

19 July 2010 Last updated at 11:30

Fraud losses reach record £1bn in UK

Fraud doesn't necessarily go up in a downturn but more effort is spent on uncovering it

One of the world's largest accountancy firms says fraud has hit a record of £1bn in the first six months of the year.

The findings come from accountancy firm BDO, which has been monitoring fraud levels for the past seven years.

The main types of financial crimes, says BDO, include mortgage fraud, under-reporting of revenue and VAT avoidance.

Mortgage fraud now accounts for 20% of all reported cases.

And of course not forgetting the kingpins of fraud in this country: the Banksters.

IMO, there is more scams and corruption among businesses in this country than ever. Even the Revenue are at it charging to call them with their 0854 rip-off lines. Contracts that are indecipherable when you get a mobile phone or sign up for internet.

We live in a rip-off society and it needs cleaning up or we will become just another banana republic with our streets full of blaggards and cutpurses.

ONLY a £Billion?

How many £Trillion do these "repectable" City "accounting" firms help Wealthy clients hide away in tax avoidance schemes, setting up specialised ltd companies off-shore?

Share this post


Link to post
Share on other sites

http://www.bbc.co.uk/news/business-10682850

19 July 2010 Last updated at 11:30

Fraud losses reach record £1bn in UK

Fraud doesn't necessarily go up in a downturn but more effort is spent on uncovering it

One of the world's largest accountancy firms says fraud has hit a record of £1bn in the first six months of the year.

The findings come from accountancy firm BDO, which has been monitoring fraud levels for the past seven years.

The main types of financial crimes, says BDO, include mortgage fraud, under-reporting of revenue and VAT avoidance.

Mortgage fraud now accounts for 20% of all reported cases.

And of course not forgetting the kingpins of fraud in this country: the Banksters.

IMO, there is more scams and corruption among businesses in this country than ever. Even the Revenue are at it charging to call them with their 0854 rip-off lines. Contracts that are indecipherable when you get a mobile phone or sign up for internet.

We live in a rip-off society and it needs cleaning up or we will become just another banana republic with our streets full of blaggards and cutpurses.

Thanks for that RB. I've learnt something new today. Great word.

Edited by Minos

Share this post


Link to post
Share on other sites

http://www.bbc.co.uk/news/business-10682850

19 July 2010 Last updated at 11:30

Fraud losses reach record £1bn in UK

Fraud doesn't necessarily go up in a downturn but more effort is spent on uncovering it

One of the world's largest accountancy firms says fraud has hit a record of £1bn in the first six months of the year.

The findings come from accountancy firm BDO, which has been monitoring fraud levels for the past seven years.

The main types of financial crimes, says BDO, include mortgage fraud, under-reporting of revenue and VAT avoidance.

Mortgage fraud now accounts for 20% of all reported cases.

And of course not forgetting the kingpins of fraud in this country: the Banksters.

IMO, there is more scams and corruption among businesses in this country than ever. Even the Revenue are at it charging to call them with their 0854 rip-off lines. Contracts that are indecipherable when you get a mobile phone or sign up for internet.

We live in a rip-off society and it needs cleaning up or we will become just another banana republic with our streets full of blaggards and cutpurses.

..the fraud is discovered 'as the tide goes out' the old adage points out ...and adds 'those swimming without their trunks' are discovered .... :rolleyes:

Edited by South Lorne

Share this post


Link to post
Share on other sites

Thanks for that RB. I've learnt something new today. Great word.

http://en.wikipedia.org/wiki/Mary_Frith

The name Moll Cutpurse was a pun: Moll, apart from being a nickname for Mary, was a common name for a young woman — usually of disreputable character. Cutpurse denoted her reputation as a thief who would cut purses to steal the contents.

Indeed. It has a nice Dickensian ring to it although it seems to originate in the 17th Century.

IMO, it describes the disgraceful state of our nation where more and more are resorting to crime. Brown created a nightmare and a new ethos where you can get rich without recourse to moral standards. Unless this country pulls out of this moral downward spiral I fear we will be relegated to second class status and nothing more than a banana republic.

"Bankster" should soon find itself into Wiki and mainstream dictionaries (as fingers wildly google "bankster").

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.