Wednesday, 20 January 2016

It takes one to know one...

From the KPMG website:

Fraud in the UK reached more than £732m in 2015, according to new analysis by KPMG.

* Fraudsters target victims in financial distress
* Fraudsters falsify finances to entice investment, leading to losses of £176m
* Men over the age of 45 perpetrated nearly three quarters of total frauds by value in 2015

From IB Times:

Patrick McCoy, one of the top financial advisers in the UK, is among 10 people allegedly charged with tax evasion. Days after being accused, McCoy, the head of investment advice and fiduciary management at KPMG, stepped down from his role.

KPMG, which has been an adviser to the UK Treasury and some of UK's largest businesses, confirmed that one of its former partners had quit the company following an investigation by HM Revenue & Customs (HMRC) into his "personal tax affairs".


Lola said...

KPMG is one of those 'fake businesses' we all rail about. So not really surprised then.

Bayard said...

What, you mean it's been absorbed into the civil service in all but name?

Mark Wadsworth said...

B, I don't know it that is what L meant, but clearly, a lot of English laws and bureaucracy are designed to create a cosy niche for lawyers and accountants. So it's more the case that the civil service has been take over by KPMG et al. (In the literal sense, they have, Georgie Boy invites KPMG et al in to HM Treasury to advise on tax changes).