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A new poll from major accountancy firm BDO has revealed the extent to which the Covid-19 pandemic has left British businesses exposed to fraud.
To contribute to the City firm’s annual Fraud Track survey, which has monitored fraud trends at UK firms since 2003, BDO commissioned a Censuswide survey of 500 directors and business owners at companies with 200 or more employees. The survey found that six in ten mid-sized businesses in the UK were hit by fraud in 2020, with an average loss totalling £245,000.
Nearly 40% of companies surveyed said they had seen an increase in attempted fraud last year compared to 2019.
More than a quarter of business owners told researchers they had suffered security breaches from cyber-attacks since lockdowns were imposed and more and more business was done online.