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OFT report 'reveals fraud crimes'

Published on 28 Jul 2009 under category: legal

The Office of Fair Trading (OFT) may have been the victim of fraud crimes worth hundreds of thousands of pounds, it has been revealed.

As much as £250,000 is thought to have gone missing from the consumer watchdog.

The body, which warns the public regarding fraud crimes, revealed this loss in its annual report from the last financial year.

It stated that £97,000 was lost in 2008-09, with the other £153,000 going missing the previous year.

Explaining this, the report said: "This was due to an alleged fraud made possible by a control weakness in the Accounts Payable process."

The OFT commented that it could not give any more details on these suspected fraud crimes as an investigation is now underway.

Earlier this week, it was revealed that a police officer is among six men set to appear in court next month over alleged fraud crimes relating to the West Midlands Police.