Stat of the day: 18%

The proportion of company fraud that's committed by board members.

by
Last Updated: 09 Oct 2013
Most workers probably wouldn't think twice about a spot of minor work-based theft, like pinching an envelope or using company internet to browse for their summer getaway. But according to a KPMG report, we should be looking higher up the ranks if we are to spot the likely perpetrators of company fraud.

Globally, board members account for nearly a fifth of ‘white collar crime’ (18%) - an increase from 11% in 2007. The survey suggests that how long an employee has been with the company also makes a difference - more than half of fraudsters have worked for their employer for more than 10 years. This is because they’re likely to have built up trust with their employers and are therefore find it easier to override controls and avoid detection. 

But even in the light of this new research if you think it’s possible to easily spot a potential fraudster, think again. KPMG says the typical fraudster tends to be male, 36 to 45 years old and often in a finance-related role - which could describe the majority of City workers. They’re hardly likely to stick out like a sore thumb.

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Subscribe

Get your essential reading delivered. Subscribe to Management Today