When I was searching for a topic to write about, I hoped to find something related to fraud.
First, I couldn’t find an article which was interesting enough to write about. But I carried on searching and then I found a topic which was related both to fraud and to KPMG.
According to a study of the KPMG Fraud Barometer, the value of frauds in New Zealand is risen sharply in the last six months of 2009.
In the first six months of 2009, an amount of $ 22 million was defrauded. In the last six months of 2009, this amount is increased by $ 76 million. So the total sum for the year 2009 is $ 100 million.
This is about 30% more than in 2008.
This rise is due to many cases concerning multimillion dollar frauds, KPMG Forensics Partner, Mark Leishman says. All sectors in New Zealand could being threaten by fraud.
That doesn’t imply that in all levels of a company people can defraud big amounts. Apparently, the managers are more probable to perpetrate fraud than lower level employees. Managers normally defraud $ 1 million while the average sum defrauded of an employee is $ 500,000.
Besides, there are different types of fraud. There are 6 current affairs of fraudulent loans, 6 of tax evasion, 5 of accounting fraud, 3 of deception and at least 2 cases of investor money stolen.
Can a committer defraud just as much money in every type? The survey shows that although New Zealand is suffering from tax evasion, the amount in this category isn’t as much as in cases of fraudulent loans.
If we take a look at the amount defrauded per type, we see that by fraudulent loans $ 34 million is defrauded, secondly investor money stolen ($ 20 million), thirdly tax evasion ($ 6 million), fourthly accounting tax ($ 5 million) and at least creditor money stolen ($ 4 million).
The KPMG Fraud Barometer supervises the level of reported frauds appearing before the criminal courts in New Zealand. Not every fraud is included in the barometer. The amount must surpass
$ 100,000 and the perpetrators must at least have been charged.
In my opinion, it’s was a good measure for New Zealand to map out the fraudulent affairs. Now, they know that there is a lot of work to do to avoid such a high figures in the future. I think that the committers must be punished severely. By this, people will consider the consequences of perpetrating fraud before doing it.
First, I couldn’t find an article which was interesting enough to write about. But I carried on searching and then I found a topic which was related both to fraud and to KPMG.
According to a study of the KPMG Fraud Barometer, the value of frauds in New Zealand is risen sharply in the last six months of 2009.
In the first six months of 2009, an amount of $ 22 million was defrauded. In the last six months of 2009, this amount is increased by $ 76 million. So the total sum for the year 2009 is $ 100 million.
This is about 30% more than in 2008.
This rise is due to many cases concerning multimillion dollar frauds, KPMG Forensics Partner, Mark Leishman says. All sectors in New Zealand could being threaten by fraud.
That doesn’t imply that in all levels of a company people can defraud big amounts. Apparently, the managers are more probable to perpetrate fraud than lower level employees. Managers normally defraud $ 1 million while the average sum defrauded of an employee is $ 500,000.
Besides, there are different types of fraud. There are 6 current affairs of fraudulent loans, 6 of tax evasion, 5 of accounting fraud, 3 of deception and at least 2 cases of investor money stolen.
Can a committer defraud just as much money in every type? The survey shows that although New Zealand is suffering from tax evasion, the amount in this category isn’t as much as in cases of fraudulent loans.
If we take a look at the amount defrauded per type, we see that by fraudulent loans $ 34 million is defrauded, secondly investor money stolen ($ 20 million), thirdly tax evasion ($ 6 million), fourthly accounting tax ($ 5 million) and at least creditor money stolen ($ 4 million).
The KPMG Fraud Barometer supervises the level of reported frauds appearing before the criminal courts in New Zealand. Not every fraud is included in the barometer. The amount must surpass
$ 100,000 and the perpetrators must at least have been charged.
In my opinion, it’s was a good measure for New Zealand to map out the fraudulent affairs. Now, they know that there is a lot of work to do to avoid such a high figures in the future. I think that the committers must be punished severely. By this, people will consider the consequences of perpetrating fraud before doing it.
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