North Yorkshire is third biggest business fraud hotspot in the UK, according to new research

The study, undertaken by the anti-fraud specialists SEON, reveals the areas with the highest rates of business fraud per 100,000 people.

The research used data from Action Fraud, and recorded both the number of fraud reports in each area as well as the total number of business or corporate fraud cases. It then compared this to population data, giving relative rates of fraud and business fraud.

The City of London has the highest rate of corporate fraud per 100,000 people in the country at 100.92 cases, according to SEON.

The study found that North Yorkshire has 12.39 reports of business fraud per 100,000 people, placing it third on the list, behind Nottinghamshire.

The report said: “This largely rural county is home to several well-off small cities and market towns, such as York and Harrogate, which act as business hubs for the area and are likely the focus of fraudsters’ attention in the region.”

The City of London places top as the region most susceptible to all forms of fraud, according to the study.

Northumbria tops the list as the most expensive part of the UK to fall victim to any type of fraud, with average losses per incident standing at £11,661.

The report added: “Since the dawn of the digital revolution, the ways criminals have at their disposal to commit fraud against both individuals and businesses have skyrocketed, putting hard-earned money at risk and causing major consequences.

It added: “Thankfully, there are many things you can do to protect yourself and your business from their criminal intentions.

“There is a digital security option for every business scenario as the technology continues to become more flexible and more affordable.”