United Kingdom

Details

  • Service: Advisory, Risk Consulting
  • Type: Business and industry issue
  • Date: 04/02/2013

Who is the typical fraudster? 

Company bosses including those working within the chief executive or managing director’s offices are increasingly committing more fraud, according to KPMG's global survey 'Who is the typical fraudster?'

The survey found that globally board members at divisional, subsidiary and corporate level, commit nearly one fifth of fraud – an increase from 11 per cent in 2007 – to 18 percent in 2011.  Of the various board roles, those in CEO or MD’s offices account for an increase in committed fraud from just 11 percent in 2007 to 26 percent across the four-year period.


 

Other findings of the survey include:

  • 50 per cent of UK fraud is committed by senior management of board level (global equivalent 53%)
  • 21 per cent of UK fraud is committed by board members (global equivalent 18%)
  • 20 per cent of UK fraud is committed by those employed in the CEO or MD’s office (global equivalent 26%)
  • Nearly 60% of UK fraudsters have worked for their (victim) company for over ten years (global equivalent 33%)
  • Detection by management review only uncovered 22% of UK frauds (global equivalent 16%) – this is a double scam is the management review is lead by management who have been fraudulent.
  • Formal whistleblower reports and anon tip offs accounted for 34% of detected UK frauds (global 24%)
  • Customer or supplier complaints 6% in UK (global 8%)
  • Third parties spotting irregularities i.e. banks, tax authorities 11% (global 6%)
 

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Jeremy Outen

Jeremy Outen

Partner
KPMG in the UK
Jeremy.outen@kpmg.co.uk

020 7311 3861