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Parking Fraud: An often overlooked issue for cities
The general public may not perceive parking fraud to be a huge problem. Yet city councils all over the world lose millions in revenue to it each year. The City of Westminster Council in London, UK, lost around €365,000 ($450,000) in potential revenue to parking fraud in 2015-2016, adding up to a total estimated annual loss of over 11 million euros (13.5 million dollars) for the City of London. Scale this up to every city in the UK, and then the world, and you have an eye-watering sum.
Many income losses
Fraud is not the only challenge for cities when it comes to parking. Inaccurate parking occupancy prediction is an other important one. In other words: cities failing to predict accurately where and when there is a high demand for parking also results in a loss of money, as city councils fail to redirect drivers towards empty, paid parking spaces.