Finance directors, chief executives and other senior staff in finance are far more likely to be involved in committing white collar crime, according to KPMG’s latest research.
The global analysis suggests that the typical fraudster is male, aged 36 to 45, holds a senior position in finance and has worked for his company for more than a decade.
The survey also found that board members at divisional, subsidiary and corporate level, commit nearly one fifth of fraud – an increase from 11% in 2007 to 18% in 2011.
Long-serving and more senior employees will be better able to override controls and have accumulated a good deal of personal trust, so will be less suspected and most prone to committing embezzlement or procurement fraud.
One of the most dramatic findings is the increase in the number of cases involving the exploitation of weak internal controls – up from 49% in 2007 to 74% in 2011.