There was a significant increase in incidents of reported mortgage fraud during 2007, with one fraudster making a £10m profit, according to the Association of Chief Police Officers (ACPO).
As a result of ACPO’s findings, new guidance on how to identify fraud has been handed to police forces and financial services firms across the country. ACPO commissioned a report on fraud following a request from FIN-NET, a financial crime intelligence unit hosted by the FSA, which says it has experienced a significant rise in reported mortgage fraud cases. ACPO hopes that sharing its report with the financial services industry will help raise awareness of the problem and how to tackle it. Mike Bowron, ACPO lead on economic crime, says: “Industry groups have started to introduce initiati...
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