A look at the people who commit fraud, the sorts of fraud they commit and the manner in which the frauds are detected.
Fraud harms corporate reputation, costs millions, and poses heavy economic and moral burden on society, but do you know who the typical fraudster is? How are they committing the fraud, for how long, and with who?
Our latest Global Profiles of the Fraudster report reveals that a perpetrator of fraud tends to be male (with the proportion of women on the rise), between the ages of 36 and 55, working with the victim organization for more than 6 years, holds an executive position, esteemed, autocratic, likely to collude with others and are motivated by personal gain, greed, and ‘because I can’.
Canadian frauds were much more likely to involve misappropriation of assets, and are more likely in the public sector, compared to the global results.
Despite technology being a significant enabler for fraudulent activity, companies are failing to leverage it to combat fraud. Furthermore, the majority of fraud continues to be due to weak internal controls and cyber frauds are also on the rise.
The question for companies is then, how should we combat fraudsters? Read the report to learn more about potential fraudsters, identify ‘red flags’ and ways to combat fraud.
Explore the data – use our interactive tool to navigate the survey data by countries and segments – including Canadian-specific results.
As you consider your organization’s risks and proactive actions, feel free to contact us to discuss how we can assist you in implementing more effective measures to manage the prevention and detection of fraud.
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