Over half of UK reported business fraud occurs in the Midlands, according to the latest FraudTrack research from BDO Stoy Hayward.

The research has done little to quash the old adage that crime doesn't pay - low risks of prosecution and low sentences often mean that it does for the criminals involved.

A spokesman for BDO Stoy Hayward said:

"When it comes to frauds against businesses, if you are discovered there is only a small chance of being prosecuted. When a fraud is discovered, all but the very largest are not a priority for the police given their limited resources. Businesses, not surprisingly, focus on getting the money back and protecting their reputations – so few of such cases, less than 15 per cent, result in a prosecution. In this case, the worst a fraudster will face is losing their job and having to repay most of their ill-gotten gains."