Mortgage fraud cases rapidly increase to 22-year high according to KPMG

The value of mortgage fraud has almost quadrupled to £96 million during the first half of 2010 marking a 22-year high, according to KPMG's Fraud Barometer. During the same period last year just 18 cases were reported at a value £24 million - the whole of 2009 saw cases totalling £77 million. The half-year mortgage fraud figures account for over half of all fraud committed in the financial sector during this period. KPMG said the boom in house prices experienced by the UK before the recession hit made it easier for people to commit mortgage fraud. It is only now that the crimes are being discovered and prosecutions made.