"....smiling white collar fraudsters who during the course of their everyday jobs steal massive amounts of money from banks, pension funds, corporations, government and private individuals.A tip of the broadest-tipped titfer to Wilbur the blogless.
According to even the most conservative estimate £20 billion was stolen in 2005 and City accountants believe such fraud figures may treble as a result of the current recession.
And how much of that fraud will be detected? One leading police fraud officer told me that the figure was probably no more than five per cent. Cases of financial crime are complex, but can that really be sufficient explanation for the news that the Financial Services Authority failed to initiate a single prosecution last year?"
Wednesday, November 04, 2009
From Counago and Spaves quoting Laurie Taylor: