Police and chartered accountants in Sussex are pooling their knowledge to provide an expert view of fraud and its prevention.

Fraud expert and author Julia Penny, from chartered accountancy firm Chantrey Vellacott DFK, is to address experts at a seminar organised by the South-East regional office of the Institute of Chartered Accountants.

She will be joined by Ken Farrow, head of the fraud squad at City of London Police, regarded as one of the world's top anti-fraud units.

Key members of Fraud Advisory Panel (FAP), a national watchdog set up under the auspices of the institute, will be providing expert insight into areas such as money-laundering and cyber crime.

FAP vice chairman Gerry Acher, of KPMG, will introduce the event and David Cairns, past secretary general of the International Accounting Standards Committee, will discuss the switch to international standards in 2005.

Hamish Masson, the institute's South-East manager, said: "With estimates for UK fraud running at between £12 billion and £16 billion a year, it is vital businesses consider the risks and take action to tackle them."

Speakers will be outlining practical steps for fraud prevention in industry, finance, the public sectors and the professions.