Australian Institute of Criminology

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Fraud risk factors

Crime facts info no. 61

ISSN 1445-7288
Canberra: Australian Institute of Criminology, October 2003

The Australian Institute of Criminology and PricewaterhouseCoopers' report Serious Fraud in Australia and New Zealand presents the results of serious fraud cases that went to court in Australia and New Zealand in 1998 and 1999. There were 155 completed files identified from police and prosecution agencies throughout Australia and New Zealand involving serious fraud offences (generally involving sums in excess of $100,000). The highest level of risk in the private sector concerned prudential failures to do with the provision of finance and credit. This was followed by personnel failures relating to inadequate supervision and control of staff within organisations. In the public sector, the highest risk factor for organisations concerned prudential failures followed by accounting and auditing failures, whereas prudential and personnel failures represented the highest risk factors for private organisations.

Principal fraud risk factors in each file


chart
Note: The total number of files =155. Thirty-one files concerned public sector risks and 124 concerned the private sector.

Source

  • Australian Institute of Criminology & PricewaterhouseCoopers, 2003, Serious Fraud in Australia and New Zealand, Research and Public Policy Series, no. 48, Australian Institute of Criminology, Canberra.