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Fraudsters have tech edge over companies, KPMG study shows

Tammy Whitehouse | June 1, 2016

Just as hackers are one step ahead of cyber-security experts in leveraging technology, corporate fraudsters are one step ahead of companies in using technology to work their internal deceits.

KPMG’s latest global report providing a profile of the typical fraudster says perpetrators are gaining an edge over corporate anti-fraud controls by making better use of technology than the companies they route. The 2016 report says weak controls were a factor in 61 percent of frauds through 2016, based on interviews with 750 fraudsters. That’s up from 54 percent in 2013. Three years ago, 18 percent of fraudsters said they purposely exploited weak controls to gain their illicit access to the corporate jewels, and that grew to 27 percent in 2105.

In fact, technology led...

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