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Know How To Avoid Fraud

Europe Security News.- The fraud triangle - Inphographic credit to Columbia University.

Europe Security News.- The fraud triangle - Inphographic credit to Columbia University.

 

 

 

 

 

Fraud is an intentional act of deceit to obtain an unjust / illegal advantage. Empirical studies over the years show that most fraud is carried out from the inside. While there is increasing evidence of fraud in the cyber world, and much of this is carried out by external forces, the majority of fraud is still carried out by insiders.

KPMG’s 2011 Survey ‘Profile Of A Fraudster’ identified the following traits:

  • 70% are between 36 – 55 years old (the peak earning years);
  • 87% are male;
  • 41% acted independently;
  • 46% were senior management;
  • 33% had worked for the company for more than 10 years;
  • Most worked in finance; and
  • 50% of red flags were not acted upon.                                                                                                                                                                                                                                   GO TO SOURCE