This summer, KPMG issued a report entitled, Who is a Typical Fraudster? where it analyzed 348 actual fraud investigations conducted by KPMG member firm in 69 countries to narrow down the profile of a typical fraudster. Interestingly, according to the study, 26% of the case studies analyzed by KPMG were committed by chief executives. Moreover, 74% of the fraudsters exploited weak internal controls. In the end, the old motivations of greed and personal gain still dominate, particularly when fraudsters need to conceal losses or poor performance.
A typical profile of a fraudster:
1. Male
2. Between 36 and 45 years of age
3. Commits fraud against his own employer
4. Works in the finance function or in a finance-related role
5. Holds a senior-management position
6. Employed by the company for more than 10 years
7. Works in collusion with another perpetrator
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