KPMG’s Fraud Barometer shows a large rise in the value of frauds being committed in Australia. For the 6-month period between April to September 2016, 143 frauds occurred, with a value of $442 million – an average value per fraud of $3.1 million. This compares with 116 frauds with a value of $381.1 million, at an average value per fraud of $3.2 million, for the previous 6-month period.
Gary Gill, Head of Forensic at KPMG Australia, said:
“Our UK colleagues have just issued their own fraud barometer, which showed that fraud there had risen by 55 percent with a large rise in cyber-crime – so it is an international problem. Businesses in Australia and overseas need to guard themselves against the perennial threat of the ‘inside job’ and the rapidly increasing danger of cyber-attack from outside and within.”
KPMG performed an international study to determine the average profile of the fraudster.