BUSINESS consultancy Two Two One B has seen a 211 per cent rise in the number of fraud cases it has been called to investigate.

Bournemouth-based Two Two One B was tasked to investigate 19 cases over the year, compared with nine in the previous 12 months.

Sectors included computer software, plant hire, printing and haulage.

Around one third of the cases revolved around company collapses with Two Two One B being instructed - often by the insolvency practitioner - to investigate alleged fraud prior to liquidations.

Two Two One B's findings echo national statistics which put the cost of fraud cases at at a total £216 million for the first six months of the year.

And this is merely the "tip of the iceberg" because the statistics referred only to cases that actually resulted in prosecution.

Two Two One B director Gary Nevill said: "There are many different types of fraud and much of it goes undetected, largely due to a 'head in the sand' attitude by management.

"Many are paying a heavy price for failing to establish a safety net against fraud and are missing out on a new range of cost effective solutions, which could save them thousands of pounds each year.

Ninety per cent of business fraud was carried out by employees: "Without simple preventative measures, companies are leaving themselves wide open," said Mr Nevill.

"Fraud prevention should be taken as seriously as straightforward business insurance - a problem could break a highly successful organisation quite easily.

"There is no point in thinking fraud could never happen to you," he added.