Protecting against fraud

Wednesday, February 1 2017

Fraud costs UK economy £193 billion a year – that’s more than £6,000 lost per second every day.

That’s also up by almost £150 billion in 2013.

That’s big money if your business becomes a victim of this crime.

Businesses seem to be hit worst with both SMEs and large enterprises losing an estimated total of £144 billion a year, according to research.

As businesses get hit the added costs inevitably find their way to the customer and that’s bad for business.

The staggering cost of fraud is already taking its toll on the pocket of the individual - an average of more than £3,900 per adult in the UK with losses taking place at a rate of £6,000 per second.

While businesses are doing everything they can to protect themselves against fraud including watertight systems, good auditing and a sound knowledge of changes to their industry, the figures seem to suggest that all businesses are vulnerable.

Insurance can help protect your business and provide a vital financial safety net when fraud strikes.

Our advisers can talk to you about getting the right package that fits the individual needs of your business. That gives you peace of mind and lets you get on with running your business without looking over your shoulder for fraud.