Martin Firbank, head of retail at PKF Cooper Parry, who is responsible for the study.Martin Firbank, head of retail at PKF Cooper Parry, who is responsible for the study.

Fraud is a significant problem which undermines the quality and strength of retailers. The latest global research on the financial cost of fraud indicates that losses to fraud and error currently average 5.6 per cent of expenditure. Fraud is an ongoing, mostly high-volume and low-value cost.

PKF and the Centre for Counter Fraud Studies at the University of Portsmouth jointly manage the largest databases in the world concerning resilience to fraud and its measured cost, and this can be used to help businesses to better protect themselves and to reduce cost.

PKF and the CCFS have a free online Self-Assessment Fraud Resilience tool, which enables PKF to use the information to see how it can help retailers by mitigating their risk to fraud, saving costs and strengthening their bottom line.

Those interested can contact the PKF Malta office on 2148 4373 or by e-mail at info@pkfmalta.com.

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