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Fraud and human error are costing businesses and organisations in the UK

Fraud and human error are costing businesses and organisations in the UK an estimated £98.6 billion a year, according to new research.

The University of Portsmouth’s counter fraud studies department makes the claim in a report called “The Financial Cost of Fraud 2015’’ which it compiled with the help of accountancy firm PKF Littlejohn.

It examined spending in 40 business sectors in the UK, as well as in mainland Europe, North America and Australasia. Once more, the research shows that much more needs to be done in fraud prevention.

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Fraud and Human Error Are Costing Businesses and Organisations in the UK

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