NEST writes off £1m in fraud losses

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The National Employment Savings Trust (NEST) has conceded it has little chance of recovering most of the £1.4m it lost due to fraud in 2012/13.

The scam, described as a mandate fraud, involved the diversion of a supplier payment from the scheme's trustee body, NEST Corporation (PP Online, 13 July 2013). In its annual report and accounts...

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