The Government's call for stiffer sentences for those convicted of fraud offences will be welcomed by UK businesses.
However, according to Midlands accountants BDO Stoy Hayward, the review fails to address a number of key issues - suggesting there is still much to be done to improve the way our justice system deals with the problem.
Proposals, recently released for consultation, suggest that the maximum sentence for fraudsters should be increased to 14 years.
This is supported by BDO Stoy Hayward's own Fraudtrack research, which found that the current average custodial sentence is seen by the public as insufficient deterrent.
However, the threat of stiffer sentences seems to be diluted by another suggestion made in the review.
Sat Plaha, partner on BDO Stoy Hayward's fraud services in Birmingham, said: "A proposal to introduce 'plea bargaining' has been recommended, made on the basis that current fraud investigations and trials are extremely time consuming.
"While there are obvious advantages to plea bargaining - justice is served quickly and victims can be compensated - it seems somewhat contradictory to propose stiffer sentences but then introduce a mechanism which allows defendants to enter a guilty plea and then bargain on the sentence they receive."
And although fraudsters, once caught, will be subject to confiscation of their assets, it seems unclear whether this confiscation will also be negotiated under the plea bargain as well.
A fraudster may seek to enter a plea bargain with a view to retaining some of their ill-gotten gains for use at a later time.
Mr Plaha continued: "The review is also silent on the subject of confidentiality.
"While it seeks to improve reporting systems for those who have suffered a fraud, it ignores the commercial view of organisations who may not wish to publicise their losses.
The review proposes the establishment of a National Fraud Reporting Centre partly funded by the private sector but acknowledges that not all frauds will be investigated. Instead the data it gathers will be used to inform and warn consumers and businesses.
"In our experience the client who has suffered a fraud values confidentiality above the recovery of assets and criminal prosecution of the perpetrator.
"If a business suffers loss through fraud and this becomes public knowledge then that business could face severe difficulties. Banks may become jittery about their lending, customers may lose confidence, suppliers may impose restrictive trading conditions and, internally, staff may fear for their continued employment and seek alternatives."
Finally, says BDO, the review fails to take into account the lack of police fraud investigators throughout the country. In many instances, police simply don't have the resources to pursue a prosecution.
Mr Plaha said: "If the Government is really serious about tackling fraud, then it must quickly place adequate resources at the disposal of the police and also introduce additional initiatives so that the public and private sector can all play a part in investigating fraud and help those who suffer at the hands of fraudsters."