20 Feb 2014

A third of firms 'victims of fraud'

4:51 pm on 20 February 2014

A global survey has found that a third of New Zealand businesses have been the victims of workplace fraud within the past two years.

PwC's Global Economic Crime Survey canvassed more than 5000 respondents in 95 countries, including 80 in New Zealand. It found theft was the most likely fraud involving local firms, accounting for 70 percent of reported economic crime, while 19 percent of businesses reported procurement fraud.

Fifteen percent reported fraud involving bribery and corruption, while 11 percent were the victims of cybercrime.

PwC spokesperson Eric Lucas says fraud rates were lower in New Zealand than the global average of 37 percent, whereas the figure for Australia was 57 percent.