A report says that 72 billion pounds are lost every year to business in the UK due to fraud. A study done by the Association of Certified Fraud Examiners says that corporates in UK are losing six per cent of their annual revenue to corruption and fraud. Various warnings were given out by the corporate scandals, which involved big companies like Enron,  Parmalat, Refco and WorldCom. Analysts say that the collapse of these big companies would alert some of the big corporates in the UK but it was seen that only half of the top companies have hired financial investigators to signal as soon as things go wrong.

Mostly there are various forms of corruption and fraud that take place in companies like stating higher profits, adopting complicated accounting schemes, which is helpful in shifting the money to the offshore accounts. Money laundering is quite common and senior managers in the company cover-up deals in order to protect dealers.

A partner of a firm in the UK says that human factor is not of much importance in the UK companies. The senior officers in the companies are often quite corrupt but their actions are deceptive and so they are overlooked. If a senior officer is regular with his work and never takes a holiday then it maybe because he has to take care of the client dealings or else his colleagues might blow the whistle.

However, last year the fraud cases in Britain are estimated to have cost the companies in the UK two billion pounds. However, most of the fraud cases remain undetected. A corporate investigator is of the view that the companies should adopt proper means against fraud, have protection plans and have a rigorous approach towards corruption.