The total amount of large scale UK fraud in 2011 topped £3.5bn – a record year – according to KPMG's Fraud Barometer, as the country continues to struggle with tough economic conditions.

The majority (£2.5bn worth of fraud) was recorded during the second half of the year, including five cases of more than £50m each. One rogue trader case alone accounted for £1.3bn 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. For the full story:

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