KMPG International recently published Global Profiles of the Fraudster based on a survey of 750 fraudsters worldwide. The report can be read or downloaded through the following hyperlink: http://www.kpmg.com/eastafrica/en/IssuesAndInsights/ArticlesPublications/Documents/Profile%20of%20Fraudster%202016_V13_web.pdf
The report is informative and provides a current profile of fraudsters. The report confirms what the partners of Quick Group have known from their years of investigative experience. In summary, most frauds have the following common characteristics:
- Weak internal controls.
- The fraudster is often a male and between the ages of 36 and 55.
- The fraud often involves collusion with others.
- 65% of the fraudsters are employed by the victim organization.
- 34% of the fraudsters are executives and 32% are managers within the victim organization.
- Technology was a significant enabler for 24% of the fraudsters with an increase in cyber fraud.
- 66% of the frauds are perpetrated over one to five years.
To prevent from becoming a victim of a fraud or if you suspect an insider within your organization of committing a fraud, please contact Quick Group. We can provided you with the resources in fraud prevention and fraud investigations.