Men are once again the most likely perpetrators of fraud - responsible for 85% of all losses in 2015 (£619m).
KPMG’s research has shown that men are once again the most likely perpetrators of fraud, and were responsible for 85% of all losses in 2015 (£619m). This is a significant increase on the previous year when male fraudsters were responsible for 60% of the losses incurred (£431m).
This increase has been driven by men over the age of 45, whose actions caused losses of £529m. More than half of these were the result of insider fraud, with employees and management abusing their position of trust to defraud employers, investors and customers of £303m.
In one case a solicitor defrauded £400,000 from the estates of deceased clients. The perpetrator ran a probate and domestic conveyancing business and abused his position to steal the money. His crimes were uncovered when his firm merged with another and the new management became suspicious.
Hitesh Patel, Forensic Partner at KPMG in the UK, commented: “These fraudsters are often respected individuals in a position of trust, who have the opportunity and means to commit the fraud, making it hard for companies to easily detect the same. Employers must remain alert to tell-tale behaviours which can indicate a fraud is taking place, such as a refusal to relinquish mundane tasks, an aversion to independent review or obfuscation when questioned.”
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