KPMG Fraud and Misconduct Survey 2010
The total cost of fraud is increasing: $345.4 million was lost to fraud compared to $301.1 million two years ago. Respondents believed that only a third of total losses are being detected.
The value per fraud is increasing: The number of separate frauds reported fell when compared with the 2008 survey, yet the average fraud rose from $1.5 million in 2008 to $3 million in 2010.
65 percent of major frauds are committed by people already working in the organisation who usually act alone. The main motivator for fraud was greed and lifestyle.
Internal Controls and Whistleblowers remain the two major means of detection.