Tuesday, 26 April 2011

Fraud barometer hits record $100m as big cases reach court


Corporate fraud AKA white collar crime continues to sky rocket in New Zealand, but most attention stays focused on much smaller amounts of benefit fraud.

"KPMG New Zealand head of forensics Stephen Bell yesterday said the large jump in frauds in the second half of last year was mainly because of a number of large cases involving multi-million dollar frauds, including cases prosecuted by the Serious Fraud Office."

Meanwhile, politicians continue to ignore the problem with the SFO continuing to fall behind in its case load.

Most political and mainstream commentary focuses instead on a relatively small amount of benefit fraud - at $16m last year, less than 10% of corporate corruption.


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