THE value of major fraud in the South-west in the first half of 2002 has quadrupled compared with the previous six months, according to the findings of KPMG Forensic's Fraud Barometer.
Despite a fall in the number of convictions from eight to five, the first six months of 2002 has seen the value of fraud in the region increase from £4.5 million to £18.6 million.
Cases in the South West include a 73-year-old who got involved in crime to boost his pension.
He was jailed for two-and-a-half years on seven counts of money laundering brought by HM Customs & Excise for his part in a £16 million mobile phone fraud.
Paul Tombleson, director at KPMG Forensic, said: "This half-year, our figures have shown a huge rise in the total value of fraud, especially in the South West.
"We anticipate that this will continue over the coming year or two, as cases that we expect to emerge as a result of the current tough economic trading conditions come to court."
Nationally, the total value of fraud cases for the six months to 30 June 2002 increased by two and a half times to £255 million compared to the previous six months (£111 million).
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