Are we heading for a re-run of the early 1990s?

Due diligence and continuing review of borrower status are essential if banks are to reduce their exposure to fraud. Andrew Durant of BDO Stoy Hayward’s Forensic Accounting Practice draws on his own investigations experience to identify some of the warning signals.

Once again the high street banks are directing significant resources into fighting credit card and cheque fraud. Credit card fraud has a high profile in the media and the internet boom has created a whole new dimension to the problem. Although credit card transactions over the internet are still a relatively small element of all such transactions, they account for a massive proportion of fraudulent transactions.