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The threat of fraud continues to be a concern for many businesses.

Research by commercial credit referencing agency Graydon UK found that fake credit applications account for 45 per cent of fraudulent incidents over the past 18 months.

Among the 373 companies surveyed, 16 per cent said that internet fraud poses a significant threat, while 13 per cent had been affected by “corporate hijacking”, when criminals change a company's official registration details with Companies House to impersonate that company. Twenty-two per cent claim that commercial fraud is on the rise.

Martin Williams, managing director of Graydon UK, says: ‘Fraud remains a persistent threat to business stability. Although fraud levels typically rise during economic downturns, measures like the 2006 Fraud Act, and the setting up of the National Fraud Authority, appear to have made little impact.’

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