This year saw the first annual figures published by the UK s National Fraud Authority. They made for worrying reading, with fraud costing the UK economy 600 per person every year - a figure double what had been previously thought. Much of the figure is accounted for by tax evasion and crimes unrelated to the factoring industry, but the financial services industry found itself at the centre of the storm as the biggest private sector sufferer, hit by 3.8 billion in annual losses.
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