Australia

Details

  • Service: Advisory, Risk Consulting, Financial Risk Management, Forensic, Internal Audit, Risk & Control Services, Topics, Demographic & Social Trends, Managing Risk & Complexity, Anti-Bribery & Corruption, Fighting Fraud
  • Industry: Justice & Security
  • Type: Survey report
  • Date: 5/02/2013

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, Bribery and Corruption Survey 2012: Australia and New Zealand 

For almost two decades, KPMG has been undertaking research in the growth and extent of fraud in corporate Australia and New Zealand. Over that time fraud has continued to rise, despite enhanced risk mitigation procedures.

Given the high cost of fraud to public and private sector organisations, it is imperative to bring some clarity to a problem that tends to flourish in business cultures with poor transparency.

 

Profiling the victims, villains and heroes of fraud, our biennial survey report provides Australian and New Zealand businesses with an opportunity to understand the impact of fraud and how it takes root in organisations that are not prepared to battle it.

 

 

Key findings

  • $373 million stolen over the past 2 years. The average value of fraud loss is now more than $3 million.
  • 47 percent of respondents believe major frauds occur due to deficient internal controls. Strong internal controls and risk management uncovered the culprits.
  • Men are three times more likely to commit a fraud. Greed and personal financial pressure are the most common motivators.
  • Collusive fraud is growing, particularly  between employees and external parties. Technology advances and increasing use of social media are likely to result in more collusion.
  • Australian and New Zealand organisations are increasingly exposed to tougher anti-bribery and corruption regimes in countries in which they do business. However, they are often ill-equipped to deal with it.
 

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Video: Fraud, Bribery and Corruption Survey 2012

Video: Fraud, Bribery and Corruption Survey 2012
Gary Gill, Partner in Charge, Forensic provides an overview into the findings of KPMG's Fraud, Bribery and Corruption Survey 2012.

FairCall 'whistleblower' reporting service

FairCall fraud reporting service
Taking a proactive stance against fraud, corruption and misconduct.