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However, he adds that the new fraud figures are for detected fraud.
Head of fraud control, Katy Worobec, said: "These latest fraud figures are good news, but we know there's no room for complacency".
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Just over 38% of the total fraud figure was down to "misuse of facility".
Now the US Sentencing Commission is considering curbing the jail terms dished out for financial crimes like fraud, figuring that since the Feds have finally started to scale back mandatory minimums for drug offenses, we might as well take it even easier on corporate execs.
Dishonest home insurance claims were the most common types of fraud, the figures show, with 55,000 detected in 2008.
Resume fraud in figures.
Filmed on location at a Gilded Age, proto-Neverland estate in Miami, the piece, whose impossible "subject" veers from Cro-Magnon man to Nigerian e-mail fraud to figure skating, might register as a pointless exercise in confusion if the performances weren't so committed and the filmmaking weren't so rigorous.
However, on a more positive note this actually represented a slight decrease on the 2010 Annual Fraud Indicator figure of £3.8bn due to improved fraud prevention methods involving plastic card fraud (£440m) and cheque fraud (£30m).
When design marketplace Brandstack was shuttered last month (with the founder blaming credit card fraud), we figured that was the end of the story.
The forger, the pornographer, and the fraud are stock figures in the allegory that constitutes the popular conception of the art world as a place of exciting evil and cunning.
This article was amended on 16 February 2015 to clarify that the figure for benefit fraud is based on figures from both the Department for Work and Pensions and HMRC.
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