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Originally Posted by me283
The logic behind fraud is to get someone to believe something that isn't true. ie you lie to them, but they accept your lie as a fact. To quantify how much benefit fraud is costing per annum, you would need to decide how much of what is believed to be truth is avtually lies. In a nutshell, that's it; it would be a brave or a foolish man who states a exactly how much we are talking about... and anything else is an estimate, which has been given. But an estimate could be a long way from the truth.
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We live in a world of estimates. Businesses live daily by estimates. What you do is you take a sample and extrapolate. Now detecting fraud
is more difficult but by using such statistical models (which take intoi account a level of undetected fraud) you can gauge not exact numbers, but an idea of scale with which to work with.