Global profiles of the fraudster

Global profiles of the fraudster

The Indian Context

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Fraud is a global scourge that harms corporate reputations and costs millions. It is a heavy economic and moral burden on society. KPMG has reported on fraud trends for many years and this is the third report that profiles fraudsters around the world. For this report, our professionals completed a detailed questionnaire about 750 fraudsters across 81 countries.  Of the 750 fraudsters profiled for this year’s survey, 56 are from India and we observed some distinctive aspects which help shape the profile of a fraudster in the Indian context.

Weak controls are a large and growing problem, and present opportunities for fraud to take place. Collusive fraud is on the rise, and can involve internal employees as well as third parties. Technology is increasingly being used to enable frauds, and cyber frauds continue to emerge as a threat.

This report is intended to help readers to understand the complex field and how it is evolving. New fraud techniques are continually developing and organisations need to respond by updating their defences. Fraud is an elusive and cunning enemy that requires a risk-aware culture to keep it in abeyance.  

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© 2016 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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