Christchurch, New Zealand is rebuilding after a devastating earthquake two years ago and recovering from the global financial crisis — and it could be losing more than US$1.2 billion to fraud. Of 140 businesses surveyed there, 38 percent had no distinct procedures to combat fraud, Chicago-based forensic analyst firm KPMG stated Monday.
Fraud costs companies US$3.5 trillion to fraud each year, according to the ACFE.
Companies around the world lose....