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What we’re reading now | Portrait of a fraudster

August 26, 2011

“Who is the typical fraudster?” is the question posed by a recent KPMG study with that title. The study’s conclusion — based on an analysis of global patterns of fraud from 2008 to 2010 —  is that fraudsters are likely to be:

  • Male — though almost 1 in 4 recent frauds in the Americas and in Asia-Pacific involved women.
  • In their late 30s or early 40s.
  • In a leadership position as a member of the board or senior management. CEOs played a role in 26% of the frauds studied.
  • Familiar with the organization’s financial systems. Fraudsters often work in finance-related positions and exploit control weaknesses.
  • Working in collusion with suppliers or customers.
  • Employed at the company for at least 5 years.

Perhaps the most sobering statistic: the average fraud went undetected for 3 years.

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