FRAUD in Yorkshire and the north east has rocketed 1,900 per cent compared to the same period last year, according to research.
The findings from accountants and business advisers BDO Stoy Hayward, based in Leeds, reveals a massive increase in fraud in the region – rising to £95 million in the first six months of 2009 compared to £5 million for the same period last year.
The region's financial and insurance sector accounted for the highest proportion of all cases.
But the real estate sector was hardest hit.
The general public were also victims of fraudsters – totalling £3.5 million.
Simon Bevan, who heads the firm's national fraud team, said: "It comes as no surprise that fraud is rocketing but I predict we will see overall fraud in the UK hit £3 billion per annum.
"There is a whole wave of commercial lending fraud that is yet to be revealed by UK and overseas banks."
