RSM Robson Rhodes is teaming with the Fraud Advisory Panel, the Home Office and the police for a comprehensive study into the impact of economic crime on the financial services sector.
Financial institutions are being asked to participate in the study on ways to curb economic crime which is estimated to cost financial services £10bn per year.
The research hopes to provide insights into the impact of economic crime, its cost to the industry and preventative measures. It will cover misappropriation, cheque credit card and cyber fraud, identity theft and money laundering. The results are due in October.
Home Office Minister Hazel Blears says: “A great deal of fraud can be prevented if organisations have appropriate measures in place and are aware of the risks and how to avoid them.”