The Midlands is a hive of fraudulent activity, according to new data, with more reported cases than Scotland, Wales and Northern Ireland combined last year.
The region saw the highest level of reported fraud outside London for the third consecutive year, racking up crimes worth more than 拢205 million in the last 12 months, according to BDO鈥檚 Fraud Track research.
Researchers examined all reported fraud of more than 拢50,000 and found 108 cases in the region last year.
Among the cases was a 拢5 million pension fiddle which saw a former tax association president jailed and a 拢2 million swindle which saw financier Gary Hexley, of Sutton Coldfield, jailed after he was exposed by Post business reporter Jon Griffin.
Sat Plaha, forensic partner at BDO in Birmingham, said: 鈥淒espite fraud levels being so high, the reality of it is that the vast majority of fraud still goes unreported. The true cost to the region is likely to be even higher than 拢200 million.
鈥淐ertain sectors are making progress though. For example, at face value, fraud in the financial services sector appears to be on the march. However, the ever increasing regulatory and compliance burden imposed on financial services firms by the FCA and PRA means that fraud which historically may not have been reported, but rather dealt with privately in-house, is now coming out driven by a growing demand for transparency.鈥
While the research shows the region is a hotbed of fraud, the total has fallen compared to last year, when the total amount was 拢250 million.
The 2013 figure remained significantly higher than in other regions including the North West, at 拢49 million, Yorkshire, 拢53 million, the South West, 拢18 million, and East Anglia, 拢4 million.
Among other cases reported across the Midlands was a 拢52 million money laundering ring, an 拢8 million tax scam and a 拢3 million car clamping con in Birmingham.
The industries playing victim to the most fraudulent activity continue to be financial services and public administration, contributing 拢123.6 million and 拢56.6 million respectively to the Midlands total.
Money laundering has surged in the last 12 months, with the total value of reported cases in the 海角视频 rising to 拢288 million from 拢70 million in 2012, an increase of more than 309 per cent.
Ms Plaha added: 鈥淢oney laundering can take many different forms but the common thread is the supposed legitimate investment of illegal funds to conceal their source. The complexity of the investment can often make it very difficult to detect and, even when found, can take years and vast expense, often to the tax-payer, to unwind.鈥
* Some of the major cases in the Midlands last year were as follows:
1) Three West Midlands men, including a former tax association president Andrew Meeson, were jailed for a 拢5 million pension tax fraud.
2) Fraudster Steven Ryan, who ran a notorious Birmingham car clamping company, was given six months to pay back almost 拢3 million or face 10 years in jail.
3) More than 200 investors lost money after being duped by financial advisers Gary Hexley and John Cooper 鈥 and the judged praised the local press for helping to end the 鈥榗ynical鈥 scam.
4) Former vicar David Collyer agreed to pay 拢800,000 back to a charity for his involvement in a 拢1.9 million black hole in its accounts 鈥 and was then declared bankrupt.
5) A gang of fraudsters was found guilty of stealing over 拢1 million from charities, hospices and schools in a sophisticated fraud.
