Fed-up with the lack of police results, Victims of fraud are going private

Companies and individuals hit by frauds are losing faith that the police will help and are instead turning to private investigation experts.

A briefing for finance industry insiders heard how just 3% of fraud cases result in charges or prosecution.

Stuart McDonald of corporate investigations company Matrix Intelligence also cited figures showing a 20% increase in online shopping and auction fraud last year, and a 61% increase in remote banking fraud.

“Depressingly, fraud is now the most likely crime that members of the British public will become a victim of, with more than one in three of us being affected, but just over 1% of police resources are dedicated to dealing with it,” he said.

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