Internal fraud fully costed in UK study

By Robert Stokes

Organisations need to appreciate both the scale of damage done by internal fraud, and the importance of adequate vetting, a new report, called ‘The True Cost of Insider Fraud’ [1], urges. The study for CIFAS, the UK’s Fraud Prevention Service analyses how internal frauds include sums taken by the fraudster as well as investigation costs, disciplinary measures, fines, compensation and intangibles such as impact on morale, reputation or share price.