Fraud is a global scourge that harms corporate reputations, costs millions and ruins lives. Criminal activities of this nature are taking their toll on numerous companies in Switzerland, too. Yet what does a typical fraudster look like? KPMG took a closer look at this question within the scope of an international study ‘Profile of a Fraudster’.
After an impressive (monetary wise) 2014 Foreign Corrupt Practices Act enforcement year, we have seen a rather slow 2015. Last year, 11 companies paid around USD 133 million, while the year before ten companies paid a striking USD 1.6 billion to resolve FCPA cases. So what is in for 2016?
The latest ‘KPMG Forensic Fraud Barometer’ reveals that Swiss courts processed 91 cases of white-collar crime last year, a record number. At CHF 280 million, however, total losses have fallen to their lowest level in eight years. The average loss per case was around CHF 3 million.