What is fraud?
Fraud is defined as a criminal deception committed by someone who acts in a false and deceitful way. There are a string of offences under a variety of legislation but essentially the suspect will demonstrate some form of dishonesty and/or deception.
Estimates put the cost of fraud in the UK at £38.4 billion annually (£265 per person in England and Wales).
Police believe Northern Ireland is no different. Organised criminal gangs here target ordinary members of the public and the business community. They then use the proceeds to fund serious crimes such as drug dealing and people trafficking.
Fraud is not a victimless crime. We are all victims as we pay:
- Higher prices in shops
- Higher interest rates
- Higher taxes.
Fraud and money laundering go ‘hand in glove’ and are often closely associated with criminals protecting the proceeds of their crimes.
It is a serious threat to our society and economy.
