[The Society asks: Are community standards dropping in New Zealand as evidenced by the growing levels of corruption, dishonesty and fraud? Are we becoming more tolerant towards the increasing levels of such crimes being committed by members of the public, including business and political leaders?].
According to the KPMG Fraud Barometer report released on 19 July 2010, the total amount defrauded was $72 million in the first six months to June 2010. This compares with $22 million defrauded in the first half of 2009. In total, there were approximately $100 million of large frauds in New Zealand in 2009 compared to $70 million in 2008. The average size of large frauds continues to exceed $2 million per cash. Managers remain greatest risk to business.
“These figures show that there has been no let up in large frauds continuing to occur and brought before the New Zealand courts. Fraud is a constant and serious threat to all sectors of the New Zealand economy, including business, governments, non-profit organisations, and individuals,” according to KPMG.
For more details see: http://www.kpmg.com/NZ/en/IssuesAndInsights/ArticlesPublications/Press-releases/Pages/Large-frauds-in-NZ-continue-to-increase.aspx