Fraud can’t be stamped out if no one takes it seriously

Underfunded staff, over-stretched agencies and police focusing on high-stakes cases. No wonder criminals are able to get away with scamming so many people, writes Chris Blackhurst

Prosecution rates are extremely low – it’s no surprise banks are having to shell out billions (iStock)

At this week’s annual Cambridgefraud conference there was a record turnout.

Some 2,000 delegates from around the world attended the seven-day gathering devoted to discussing new twists and glitches in financial crookery. Now in its 39th year, the International Symposium on Economic Crime, to use its proper title, has become a fixture in the calendar for senior investigators, police officers and law enforcers.

I first started years ago, when it was just 30 or so people in a room over the old Jesus College Bar. Now, it’s housed, still in Jesus, but across marquees, halls and lecture theatres. Where once those attending could all stay in rooms at Jesus, the organisers have to book accommodation in neighbouring colleges.