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Banks hiding true scale of financial fraud, MPs told

James Dean 

The Times

6 November 2014 

Dr Alastair MacWillson, an adviser to PA Consulting Group, is quoted in an article in The Times on criminals stealing twice as much money from bank accounts than banks are actually reporting. 

Alastair explains that the problem was likely to be wider than frauds involving sums of money, such as thefts of private data and corporate secrets: “So it’s very difficult to quantify. Banks are obviously reluctant to air the fact that they have a problem, but they can’t really talk about things when they have an incomplete picture,” says Alastair.

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