Fraud advice

What is fraud?

‘Fraud happens when deception is used to gain dishonest, often financial, advantage over another person’

Fraud can be committed by:

  • False representation
  • Failing to disclose information
  • Abusing a position of trust

Fraud is mainly committed against businesses rather than individuals and many businesses are unaware of fraudulent activity occurring against them.

The National Fraud Authority states that fraud affects one in four small and medium sized enterprises (SMEs) in the UK and estimates that fraud cost SMEs £18.9 billion in 2012.

  • Types of fraud
  • Preventing fraud
  • Reporting fraud

The advice and guidance in this section was collated from the National Fraud Authority and Action Fraud.