KPMG: Senior managers to blame for corporate fraud

A new report by KPMG has claimed that
senior management, not lonely, disaffected employees, are to blame for most
corporate fraud.

According to an international survey of fraud cases, KPMG said the profile of
the average fraudster is male, middle aged and has worked for at least six years
for his employer.

The firm found that many fraudsters were either the chief executive or
managing director, or had worked in the finance department or sales and

KPMG said weak internal controls help them get away with it and they were
usually only caught when another employee blew the whistle.

Further reading:

CA goes after co-founder following fraud report

Fighting fraud: healthy attitude

Fraud review: opportunity missed

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