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Global Profiles of the Fraudsters

In: Business and Management

Submitted By ghareeb
Words 10259
Pages 42
Global profiles of the fraudster
White-collar crime – present and future

kpmg.com/fraudster

2

Global profiles of the fraudster

F

Introduction to the typical fraudster identified in the investigations KPMG firms reported on two years earlier. The typical fraudster in the 2013 study is 36 to 45 years of age, is generally acting against his/her own organization, and is mostly employed in an executive,3 finance, operations or sales/ marketing function. He/she holds a senior management position, was employed in the organization in excess of six years and, in committing the fraud, frequently acted in concert with others. Other findings, however, are different. This time, we have developed a series of themes in order to understand the changing relationship among the fraudster, his/ her environment and the frauds committed. And after taking into account the insights of our investigation leaders around the world, we conclude that the type of fraud and the type of fraudster are continually changing. “The intriguing thing about fraud is that it is always morphing, like a strain of flu; you can cure today’s strain, but next year it evolves into something as bad if not worse, ” says Phil Ostwalt, Global Coordinator for Investigations for the Global Forensic practice at KPMG. One major change is the growing use of technology by fraudsters, and not just in the technologically advanced countries, such as the US “a concern for all business is that we are about to see a new generation of people, able to use more technology and with access to much more information than past generations. All of which points to a new era for fraud and illegal activities, ” says Arturo del Castillo, Managing Director of Forensic, KPMG in Colombia. We believe that understanding this fluidity will enable organizations to protect themselves better against fraud and may improve their ability...

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