Fraud? The boss probably did it.

Most cases of fraud come from the top.

Analysis of the levels of fraud among UK businesses show that although the value of fraud cases dropped significantly in the first half of 2012, most cases are still committed by management

According to figures from KPMG, fraud figures fell from £1.1bn in the first half of 2011 to just £374m in the same period this year. However, most cases tend to come from within organisations, with 55 per cent of the total perpetrated by finance directors, chief executives and other senior managers. Only 6 per cent of cases came from employees.

The large drop in the levels of fraud was attributed to fewer “super fraud” cases.

Hitesh Patel, UK forensic partner at KPMG, said, "The extent and impact of fraud perpetrated from within businesses has historically been masked by a handful of exceptionally large cases coming to court, but the fall in such "super" cases now shines a spotlight on the chronic and pernicious threat to businesses in these austere times."

One case highlighted by the research involved a former head of counter-fraud operations at a bank, who committed procurement fraud worth £2.4m for personal benefit.

"The value lost through management fraud shows graphically that businesses need to ensure controls are more than simply trust where senior members of staff are concerned; an effective anti-fraud regime applies to all, not just to more junior staff."

This article first appeared in Economia

Photograph: Getty Images

Helen Roxburgh is the online editor of Economia

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How the Lib Dems learned to love all-women shortlists

Yes, the sitting Lib Dem MPs are mostly white, middle-aged middle class men. But the party's not taking any chances. 

I can’t tell you who’ll be the Lib Dem candidate in Southport on 8 June, but I do know one thing about them. As they’re replacing a sitting Lib Dem (John Pugh is retiring) - they’ll be female.

The same is true in many of our top 20 target seats, including places like Lewes (Kelly-Marie Blundell), Yeovil (Daisy Benson), Thornbury and Yate (Clare Young), and Sutton and Cheam (Amna Ahmad). There was air punching in Lib Dem offices all over the country on Tuesday when it was announced Jo Swinson was standing again in East Dunbartonshire.

And while every current Lib Dem constituency MP will get showered with love and attention in the campaign, one will get rather more attention than most - it’s no coincidence that Tim Farron’s first stop of the campaign was in Richmond Park, standing side by side with Sarah Olney.

How so?

Because the party membership took a long look at itself after the 2015 election - and a rather longer look at the eight white, middle-aged middle class men (sorry chaps) who now formed the Parliamentary party and said - "we’ve really got to sort this out".

And so after decades of prevarication, we put a policy in place to deliberately increase the diversity of candidates.

Quietly, over the last two years, the Liberal Democrats have been putting candidates into place in key target constituencies . There were more than 300 in total before this week’s general election call, and many of them have been there for a year or more. And they’ve been selected under new procedures adopted at Lib Dem Spring Conference in 2016, designed to deliberately promote the diversity of candidates in winnable seats

This includes mandating all-women shortlists when selecting candidates who are replacing sitting MPs, similar rules in our strongest electoral regions. In our top 10 per cent of constituencies, there is a requirement that at least two candidates are shortlisted from underrepresented groups on every list. We became the first party to reserve spaces on the shortlists of winnable seats for underrepresented candidates including women, BAME, LGBT+ and disabled candidates

It’s not going to be perfect - the hugely welcome return of Lib Dem grandees like Vince Cable, Ed Davey and Julian Huppert to their old stomping grounds will strengthen the party but not our gender imbalance. But excluding those former MPs coming back to the fray, every top 20 target constituency bar one has to date selected a female candidate.

Equality (together with liberty and community) is one of the three key values framed in the preamble to the Lib Dem constitution. It’s a relief that after this election, the Liberal Democratic party in the Commons will reflect that aspiration rather better than it has done in the past.

Richard Morris blogs at A View From Ham Common, which was named Best New Blog at the 2011 Lib Dem Conference

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