RTTNews - Tuesday, the KPMG's Fraud Barometer said the cases of major fraud remain high in Australia and could increase in the wake of the economic downturn.
The inaugural finding by the group showed that for each six month period since January 2008, the major fraud exceeded A$100 million.
The report found that the frauds were high across the country, with the large frauds not discriminating between organizations and individuals. Queensland has the highest number of large fraud incidents. Investment scams are popular in the Sunshine State with half of all investment scams identified in Australia occurring in Queensland, the report added.
KPMG's Fraud Barometer tracks major frauds over $100,000 coming to courts over a six-month period, with comparison against prior periods.
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