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Analysis of frauds recorded on the CIFAS Staff Fraud Database reveals an alarming increase in the level of fraud being committed by employees during 2011 (when compared with 2010), most notably:

• A 14.5% overall increase in the number of insider frauds recorded in 2011 when compared with 2010.

• A 41% spike in the number of dishonest actions by staff to gain a benefit by theft or deception (e.g. theft of cash from customer accounts).

• A decrease in the number of unauthorised disclosure of data frauds, which demonstrates the increasing preventative measures taken by organisations against this threat.

The total amount of fraud in 2011 topped £3.5 billion – a record year – according to KPMG’s Fraud Barometer, as Britons across the country continue to struggle with tough economic conditions.

£2.5 billion worth of fraud was recorded during the second half of the year – including five large fraud cases of more than £50 million each coming to court. One rogue trader case, alone (which has not yet been tried), accounted for £1.3 billion and even without its inclusion, the six months to December 2011 would still have seen the largest amount of fraud ever recorded by KPMG in a six month period.

The analysis of fraud trends during 2011 by CIFAS – the UK's Fraud Prevention Service reveals a disturbing 9% increase in the overall level of fraud, when compared with the previous year, with further key findings presenting a stark picture of the economic crime landscape in the UK.