Report

A survey of fraud, bribery and corruption in Australia & New Zealand 2012

5 Feb 2013
Description

This report argues that fraud has continued to rise in both Australia and New Zealand despite enhanced risk mitigation procedures.

Key findings:

  • $373 million stolen over the past two years. The average value of fraud loss is now more than $3 million.
  • 47 percent of respondents believe major frauds occurring due to deficient internal controls. However, strong internal controls and risk management uncovered the culprits.
  • Typical fraudster tends to be male, men are three times more likely to commit a fraud than women, greed and personal financial pressure are the most common motivators.
  • Collusive fraud is growing, particularly collusion between employees and external parties, with technology advances and the increasing use of social media likely to result in more collusion.
  • Australian and New Zealand organisations are increasingly exposed to tougher anti-bribery and corruption regimes in the countries in which they do business. However, they are often ill-equipped to deal with bribery and corruption.
Publication Details
Published year only: 
2013
334
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