PwC: UK needs to be wary of fraud

01/02/2010 PwC: UK needs to be wary of fraud

Those in risk jobs need to be aware of an increased presence of fraudsters trying to take advantage of the lack of economic stability in the UK, it has been revealed.

PricewaterhouseCoopers (PwC) has recognised three different areas where fraud could occur as the country comes out of recession - green fraud, the public sector and cyber crime.

Jay Abbott, PwC director of vulnerability and threats, stated he is worried that cyber crime could allow conmen to develop a "symbiotic relationship" with computers, giving their schemes a longer-term element.

PwC partner Tony Parton warned that as Britain continues to recover fraudsters will continue to look for areas they can exploit.

And 46 per cent of respondents in the public sector to the Global Economic Crime Survey reported an escalation in the levels of economic crime taking place within that area in the UK.

The company also announced that the biggest risk to the banking sector is political, as continued interference from the government could cause a major threat to its financial health.

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