A summary of frauds reported by the media in New Zealand during the last 12 months.
The KPMG Fraud Barometer is a summary of frauds reported by the media in New Zealand during the last 12 months prepared by the KPMG Risk Advisory network.
This edition discloses that white collar fraud reported between 1 August 2018 – 31 July 2019 totalled $124 million, including the high profile hack of Cryptopia in January which ultimately led to the liquidation of the Christchurch based cryptocurrency exchange.
The Barometer also reveals that:
The key findings from the Barometer demonstrate the need for all organisations, of whatever size, to consider their fraud risk management framework and the specific internal and financial controls that are in place to detect and prevent fraud.