Fraud Definition: the use of one's occupation for personal enrichment through misuse or abuse of resources or assets of the employing organization.




Fraud survey in colombia 2013 made by kpmg advisory services ltda – forensic

Actually Colombia is facing a period of sustained economic growth, a positive issue that also makes it more vulnerable to fraud, which affects directly the companies established. This is because there’s no prevention and effective controls from the companies, to counteract the threats posed by such growth.


This is reflected in the overall figures for fraud in Colombia, which have increased. According to the latest study on fraud in Colombia realized by KPMG, the estimated cost for economic crimes this year was $ 3,600 million dollars, its 1% of the national PIB. This means an increase of 378% compared to 2011, when the cost of economic crimes represented $ 950 million dollars.
Of these total cost, the financial fraud has caused a economic damage to the 1.800 millon 
American dollars, which represents 51% that means that the financial fraud is the crime that generates most economic impact  in the interior of the companies and the country in general. 
Regarding the level of incidence of fraud in companies operating in the country, it reaches 65%, almost 7 of 10 companies operating in Colombia have suffered at least one fraud in the last twelve months. 70% of these frauds have been made by employees of the companies, quantity that showed an increase of 2% compared to 2011, and 90% of these frauds are detected a year after the attack.

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The Association of Certified Fraud Examiners published recently the Report Of the United Nations:


The summary of the survey results estimate that a typical organization loses 5% of its annual revenue in fraud. Applying the 2011 Gross World Product, this quantity it’s a potential loss greater than the projected 3.5 billion (millions of million) dollars (USD 3.5 trillion).

According to the research more that the fifth part of the frauds caused loss of at least 1 million dolllars.

The average loss from fraud in our study was USD $ 140,000. More than a fifth of these cases caused losses of at least $ 1 million.

As in previous reports, schemes of improper appropriation from assets where the most common type of fraud, constituting 87% of reported cases;were also the least expensive way of fraud, with a mean loss of USD 120.000. The fraud schemes in financial statements constituted only 8% of cases in our research, but caused the highest average loss (USD 1 million). Fraud schemes in financial statements constituted only 8% of cases in our research, but caused the highest average loss (USD 1 million). Corruption schemes were in the middle, as they are more than a third of all cases reported and generated an average loss of USD 250,000.

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  • Results of the Survey on the Economist Intelligence Unit

  • Concern about fraud is high worldwide

  • Stealing Information remains a serious threat

  • Many companies doesn’t have the necessary preparation for greater enforcement of regulations

  • Companies face difficulties on implementation strategies against fraud


"All businesses face the risk of fraud. How to respond - . Nature of his approach to prevention , research and outreach - . Shall draw a line between those who manage all subjects and those suffering significant losses "


Grows the concern of each type of fraud as the business confront more varied threats

At first sight, the survey contains good news. The number of companies affected by the two most common types of fraud has reduced. This year, 25% informs having experimented theft of physical assets (a decrease from 27% in the 2010 survey) and 23% were affected by the theft, loss or attack information (here was a 27% too, reduction from the previously registered). More broadly, only 75% of companies were victims of fraud in the past 12 months, a significant drop from 88% last year.

The companies are more aware of their exposure to the corruption but often they don’t have structures to deal with it.  Corruption is an increased risk for the companies worldwide. Its prevalence has shown the greatest increases in any of the frauds covered by the survey, since nearly doubled from 10% last year to 19% in the last study. This is happening in an environment of regulatory controls undergoing.

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