If fraud is committed in Switzerland, perpetrators think big. This is the picture painted by the latest figures reported in the KPMG Forensic Fraud Barometer: In 2013, the total loss as a result of white-collar crimes rose 66.8% year-on-year to CHF 830 million despite a slight decline in the number of cases. Financial institutions and commercial enterprises were hit particularly hard and compared to 2012, there was a strong increase among public authorities.
In 2013 Swiss courts closed a total of 58 cases of white-collar crime. This represents a decline of 9.4% from the previous year (64 cases). The significantly higher total loss amount is primarily attributable to four crimes involving losses in excess of CHF 125 million each. As in 2012, the majority of the 2013 cases pertained to embezzlement (20 cases) and criminal mismanagement (12 cases). Similarly, perpetrators’ statements indicated once again that the main use of criminally-obtained assets was to bridge financial gaps and to finance the perpetrator’s own lifestyle which included gambling and the purchase of luxury goods.