12.5 Percent Of All Known U.k. Major Fraud Is Associated With Gambling

Fraud is on the increase in the UK – up 110 percent year-on-year in value terms at GBP 1.5 billion

According to the latest BDO Fraudtrack fraud analysis report, 12.5 percent of UK fraud cases over GBP 50,000 in value are associated with gambling in general.
Researchers report that an analysis of the latest figures available for the year 2015 show that reported frauds at GBP 1.5 billion were 110 percent higher in value terms than the preceding year and the highest since 2011.
However, the actual number of reported incidents in this category was 5.2 percent lower at 519, with the average value of reported cases 121 percent higher at GBP 2.9 million, and some of the largest cases brought to court reaching over GBP 250 million.
The BDO numbers are based only on major frauds of over GBP 50,000 in value.
Paul Buck, CEO of the EPIC problem gambling consultancy, commented in a statement:
"This Fraudtrack report from BDO highlights what a growing and relevant risk problematic gambling in the workplace has become. Only two years ago gambling was the root cause of less than 1 percent of all reported frauds in the workplace and that figure has now grown to 12.5 percent and a figure of GBP 225 million.
"Perhaps most concerning is that this report only covers frauds above GBP 50,000 and it is our experience that the vast majority of gambling related frauds are below this figure with an overall average of GBP 16,825 over the last four years."
See the full fraud assessment here: http://epicpgc.com/wp-content/uploads/2016/12/BDO_FRAUDTRACK_FEB16_FINAL.pdf

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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