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Food Fraud Costs UK Economy Up to GBP2 Billion a Year, New Study Finds
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Newswise: BizNews
Newswise — Food fraud is costing the UK economy up to £2 billion every year, according to the first study to calculate its full economic impact.
It also captures the wider impact on the legitimate food industry, including the loss of sales when fraudulent products displace genuine ones.
Food fraud is not just about consumers paying for something that is not what it claims to be.
Unlike many other forms of fraud, the researchers suggest food fraud remains comparatively uncommon because of the extensive checks built into the UK's food supply chains.
The study also suggests that investing in food fraud investigations could generate significant economic benefits.