Rise in Fraud Highlights Scotland’s Underlying Financial Problems, says Trust Deed Scotland Monday 2 March 2015 PDF Print “It is clear that people are resorting to increasingly desperate measures to get themselves out of financial trouble. The reaction follows a report in online publication The Courier detailing the huge increase in cases of fraud throughout the country as people look to stem debt problems as well as fund personal greed and unfeasible lifestyle choices. The figures, complied by BDO FraudTrack, state that while fraud in the rest of the United Kingdom has experienced a 31 per cent decline, financial deception north of the border experienced a 67 per cent rise over the course of 2014. The statistics show that the sums accumulated over the last twelve months in reported cases over £50,000 has jumped by £4 million to £10,130,000, something that signals a worrying trend for a country with significant personal debt problems as it is. From the 29 recorded cases, almost £7 million (or 68 per cent) dealt with insurance and finance, the biggest scam involving a team of six individuals who together managed to fraud upwards of £3 million in a mortgage scam. Over half of the people involved in the cases stated that the motive for their offences was to fund greed, while a further four cited spiralling debt problems as a reason. A spokesperson for Trust Deed Scotland, expert finance and debt advisors, has released a statement following the report. “It is clear that people are resorting to increasingly desperate measures to get themselves out of financial trouble. “As a country we are dealing with more and more personal debt problems so on the one hand the increase in fraud cannot be viewed with too much surprise. On the other hand, however, no debt problem should warrant a foray into criminal activity – there is professional help always on hand to help people reach an amicable arrangement with their creditors, and that is a large part of what we do here at Trust Deed Scotland. “The scale of debt across the country means that there is no longer a stigma attached to seeking help. We urge anyone who is finding themselves in serious financial difficulty to seek the support and advice that is available to them to avoid slipping into further trouble.” Trust Deed Scotland Ltd is a leading debt advisory service for Scottish residents. They are 100% owned and operated in Scotland, with a 98% trustpilot rating owing to their free, qualified debt advice. They are able to advise on the suitability of Trust Deeds and a number of alternatives, including The Debt Arrangement Scheme, Debt consolidation and Sequestration. This press release was distributed by ResponseSource Press Release Wire on behalf of Trust Deed Scotland in the following categories: Personal Finance, Business & Finance, Public Sector, Third Sector & Legal, for more information visit http://pressreleasewire.responsesource.com/about.