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Fraud - PwC

FraudA guide to its prevention,detection and Fraud is a persistent fact of business life, affecting businesses of all sizes and across all industries. Consider the following recent statistics: of Australian businesses suffered some form of Fraud between 2005 and 2007 (PricewaterhouseCoopers Economic Crime Survey 2007) Fraud costs Australian business and government $ billion a year one-third of the total cost of all crime in Australia (Australian Institute of Criminology s 2003 report, Counting the costs of crime in Australia) of Australian respondents suffered losses in excess of $1 million between 2005 and 2007 (PricewaterhouseCoopers Economic Crime Survey 2007).

r y m o r l a u n d eri n g E c o o m c P o i i c a l S o c i a l. 6 Fraud risk management. 7 Fraud risk management 1 How to establish a robust framework. 8 ... be sophisticated and diffi cult to detect, and such schemes can operate for years before they are discovered. Fraud indicators include: • employees and suppliers sharing

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