New Zealand has jumped to fourth place worldwide
for reported frauds, with cyber fraud emerging as the latest threat to
businesses, according to a PriceWaterhouseCoopers global economic crime
survey.
New Zealand now ranks fourth out of 78 countries, up from
eighth out of 54 in 2009. The latest survey shows 49.5 percent of New
Zealand respondents were the victim of one or more frauds in the past
year.
Compared to the 2009 survey, almost all sectors experienced a
rise in fraud, the survey showed. The biggest increases for reported
fraud were for retail and consumer, at 80 per cent, energy and mining at
71 percent and government at 60 percent.
"Given the uncertain
economic environment, the pressures and incentives to commit fraud have
not declined since the 2009 survey, but instead appear to have
increased," said Eric Lucas, PWC forensic services partner.
Cybercrime
was included in the survey for the first time. It ranked third on 24
percent, behind accounting fraud at 30 percent and asset
misappropriation on 74 percent.
The survey found kiwi businesses
are not taking cybercrime seriously, with 39 percent of respondents not
receiving any cyber security training in the past year.
"Criminals
are becoming more sophisticated in their approach as they have
identified how organisations have a reliance on technology and the
fraudsters are acquiring the technical skills to take advantage of low
risk and high rewards," Mr Lucas said.
Businesses needed to be educated about what to do when they suspect someone of committing fraud, he said
It
was worrying that only 21 percent of New Zealand organisations gave
the fraudster nothing more than a wrap over the knuckles, he said.
Of the 93 New Zealand organisations who participated in the online survey, 39 percent of detected frauds came from tip-offs.
NZN