UK businesses lose nearly £700 million to fraud

Data obtained by consulting services provider RSM U.K. Group LLP showed that local businesses lost £682 million ($882 million) due to fraud in the last two years, Accountancy Daily reports. Corporate employee fraud accounted for the highest losses of £214 million, followed by mandate fraud (£100 million), and fraud involving check, plastic card and online bank accounts (£98 million).

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