KPMG says most white collar criminals are bosses

Consultancy firm KPMG has identified the typical white collar criminal after a global analysis of fraud trends, which found that most fraud is perpetrated by senior management or board members.

The survey revealed that the typical corporate fraudster was a male between the ages of 36 and 45 who holds a senior role in finance. They are also likely to have spent more than a decade at the company they work for, and they usually act in collusion with a partner.

The research also found that the number of cases which involved taking advantage of weak internal controls had jumped from 49 per cent in 2007 to 74 per cent this year.

KPMG said personal greed remained the primary motive in most cases of fraud, but increased pressure to meet budgetary targets and the difficult economic climate were also contributory factors.

It added that companies had left themselves at risk by cutting back on risk management and other safeguards in order to reduce costs.

Read a full report at the Guardian. ·