Belfast Telegraph

Wednesday 17 September 2014

Fraud costs the economy up to 4 billion euro every year

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.

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