: FRAUD SURVEY 2004 REPORT

Abstract

We are pleased to present the results of KPMG Forensic's third biennial survey of fraud in Malaysia. Since 2000, the KPMG Fraud Survey has established a reputation as the most credible and widely quoted survey of fraud in Malaysian business. As a leading provider of forensic services, KPMG believes that it is important to quantify the trend, nature and extent of fraud in today's business environment. The Malaysian KPMG Fraud Survey is our contribution to that end. Fraud and white collar crime have increased considerably over the recent years, and professionals believe this trend is likely to continue. The cost of fraud to businesses is difficult to estimate because not all fraud and abuse is discovered, not all uncovered fraud is reported, and civil or criminal action is not always pursued. However, the statistics we currently have show the astronomical values associated with fraud. The cost of fraud does not stop at a monetary figure with lots of noughts behind it. ITS insidious nature seeps into and erodes the core elements that all business is built upon: confidence and trust.