Massive increase in employee fraud

Last year saw a dramatic increase in serious employee fraud, with losses totalling £567 million, crime experts have said.According to KPMG’s Fraud Barometer, 2009 saw 123 cases of serious fraud by employees and managers - the most since the barometer began 22 years ago. Crimes perpetrated by managers accounted for £335 million of losses, up from £129m in 2008, and employees committed £232 million of fraud, up from £100 million.