Marsh warns of heightened fraud and corruption risk exposure
Marsh and its sister company Kroll, a risk consulting company, have warned that UK firms will be exposed to heightened fraud and corruption risks this year as a result of the global recession.
It followed that many insurance policies addressing fraud risk have been based on a historical perception of the economic crime landscape, which could mean that many will be unable to fully respond to the consequences of the emerging innovations in fraud techniques.
Dean White, a managing director in the financial and professional practice at Marsh, explained: "The Fraud Act 2006 was a landmark piece of legislation, clarifying and updating the offences of fraud under UK law. Previously offences
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