Australia

Details

  • Service: Advisory, Risk Consulting, Forensic, Topics, Fighting Fraud
  • Type: Benchmarking study
  • Date: 28/03/2011

Fraud Barometer

KPMG Fraud Barometer
The Fraud Barometer is a bi-annual publication which monitors and examines the incidence of large frauds before the criminal courts in Australia.

Fraud Barometer: December 2010 readings 

KPMG Forensic's fourth Fraud Barometer - Uncovering the hot spots finds that over $115 million was lost to the Australian economy as a result to fraud over the last 6 months.
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Our 6-monthly analysis of reported frauds before Australian criminal courts to December 2010, shows that despite the warnings, organisations are still falling victim to fraud.

 

Key findings

  • The average size of a large fraud was $1.7 million.
  • While there were no high profile ‘supercases’, there was a steady stream of large frauds between $1 million and $10 million, many of them bearing the hallmarks of the types of internal frauds that often go undetected for long periods.
  • An increasing number of cases of deception, where people are conned into handing over money, often through investment scams that are fleecing unsophisticated investors.
  • As in previous periods, the value of frauds in the Financial Services sector for the period exceeded other sectors.
  • Government organisations suffered a range of frauds – mostly by external parties.

 


 

KPMG's Fraud Barometer monitors the level of reported major frauds coming before the criminal courts in Australia. 

 

The Fraud Barometer is released at 6-monthly intervals, providing up-to-date information on fraud patterns in Australia.

 

To be included in the Fraud Barometer, frauds must exceed $100,000.