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LATEST NEWS & EVENTS Business fraud cases rise  More commercial dispute litigation cases could emerge over the coming months as private sector fraud rises sharply. New figures from KPMG shows fraud cost UK firms £266 million in the six months to the end of June this year, nearly a third more than the same period in 2010. Overall, the value of fraud in the UK has increased from £609 million to £1.1 billion over the same time frame. KPMG stressed that the private sector is "under intense attack", although government agencies are bearing the brunt of the problem. Hitesh Patel, UK forensic partner at KPMG, believes that the increase is partially down to the rise of ecommerce and automated payment systems. He went on to note that small businesses in particular can suffer badly at the hands of fraudsters. For these firms, he said "fraud can often lead to significant cash flow problems resulting in redundancies - and at worst a fight for survival". The report comes as UK businesses are adapting to the new Bribery Act, which came into effect on July 1st. KPMG said the introduction of this legislation is an indication that the British government is taking the threat of fraud "very seriously". Posted by Alex McLean 
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