Australia

Details

  • Service: Advisory, Risk Consulting, Forensic, Topics, Fighting Fraud
  • Type: Survey report
  • Date: 8/11/2010

Fraud and Misconduct Survey

Fraud and Misconduct Survey
Since 1993, the KPMG Fraud and Misconduct Survey has been analysing the nature and extent of fraud in Australian and New Zealand businesses.

Fraud and Misconduct Survey 2010 

KPMG's ninth biennial Fraud and Misconduct Survey 2010, Australia and New Zealand looks into the extent and nature of fraud in the public and private sector – how much was stolen, who stole it, how they stole it and how to prevent them stealing it again.
Fraud and Misconduct Survey 2010 cover
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Key findings

  • The total cost of fraud is increasing: $345.4 million was lost to fraud compared to $301.1 million two years ago. Yet respondents believed that only a third of total losses are being detected.  We could be looking at the tip of an iceberg.
  • The value per fraud is increasing: The number of separate frauds reported fell when compared with the 2008 survey, yet the average fraud rose from $1.5 million in 2008 to $3 million in 2010.
  • Who did it: 65 percent of major frauds are committed by people already working in the organisation who usually act alone. The main motivator for fraud was greed and lifestyle. 

Video: Fraud and Misconduct Survey 2010

Video: Fraud and Misconduct Survey 2010
Gary Gill, Partner in Charge, KPMG Forensic provides a high-level overview into the findings of KPMG's Fraud and Misconduct Survey 2010.