Sunday, 7 November 2010

company fraud nearly doubles in new zealand

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Corruption in New Zealand is on the rise, nearly doubling over last year as global financial crisis increases desperation at top corporate levels.

"The survey of about 200 groups, in both government and private sector, on both side of the Tasman showed the cost of fraud rose from an average NZ$1.9 million in 2008, to NZ$3.8m this year."

Interestingly, KPMG published the fraud survey in Australia and New Zealand, but not the US and the UK - sources of huge corporate fraud.

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