Banks hit by record level of fraud.
Banks hit by record level of fraud
06:43 - 29 July 2008
Banks have suffered a major jump in fraud committed against them, with a record level of cases coming to court during the first half of the year, figures show.
KPMG said fraud cases against the financial services sector totalling £350 million came to court during the six months to the end of June, the highest figure recorded by the group's fraud barometer in its 20-year history.
The total dwarfed the previous highest figure of £200 million, which covered the whole of 1998. It warned that the figure was likely to get worse going forward as the full impact of the credit crunch unfolds.
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