Belfast Telegraph

UK Website Of The Year

Fraud costs the economy up to 4 billion euro every year

Published 10/11/2006

It is estimated that the Irish economy loses between two and four billion euro every year through fraudulent activity.

An SAS fraud briefing has heard that many new trends are emerging, including the coercion of employees and an alarming increase in infiltration of call centres by criminal gangs.

Peter Dorrigan, Head of Fraud Solutions at software and services company SAS, said the impact of fraud in Ireland is, at a very conservative estimate, between 2% and 4% of GDP, or 148 billion.

SAS has warned that strategies and structures are urgently needed to reduce losses.

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More

From Belfast Telegraph