Smaller finance teams, more stressed companies and complex reporting rules are leading to more mistakes in mid-size and small company financial records, raising the risk of fraud going undetected, says an auditor.
A bi-annual survey of fraud in Australia and NZ by KPMG, released on Thursday, shows the level of fraud by individuals of more than $1 million rose 82 per cent between 2010 and 2012, while fraud by internal staff rose to 75 per cent of the total from 65 per cent.
- Fraud in Britain reaches new high, says KPMG survey (theweek.co.uk)
- Mortgage fraud predicted to soar – Confused.com (confused.com)
- Opportunistic fraud ‘on the rise’ (bbc.co.uk)
- Credit Card Fraud Scheme: 7,000 Fake Identities, $200 Million Stolen, 18 Charged (news.softpedia.com)
- Lenders beefing up technology to cut fraud risk (lexingtonlaw.com)
- Police warn of credit card phone scam (confused.com)
- Fraud hitting the cost of insurance (confused.com)
- Old Fashioned Con Artistry Makes A Comeback (news.sky.com)
- Sentencing postponed for Fairview fraud convict (goerie.com)
- Big fall in value of fraud cases (bbc.co.uk)