Fraud will thrive in poor economy

A DOWNTURN in the economy will result in an increase in incidents of fraudulent activity, which could cost Irish businesses millions of euro.

This is according to the former head of the Criminal Assets Bureau (CAB), Felix McKenna, who said Irish businesses need to be more aware than ever when it comes to identifying fraud.

He said people who have got themselves into situations where they can’t afford to pay bills or mortgages or are faced with unemployment might see what they can extract from the firm at which they work.