The latest survey from business advisory firm KPMG shows firms are continuing to ignore the warning signs of fraud.
The survey, which includes New Zealand-based multinationals, found almost half of respondents suffered fraud crimes against their company.
Red flags indicating likely fraud were ignored in more 22% of the major cases.
KPMG director of forensics Mark Leishman said that equates to about $650,000 of fraud in New Zealand.
He said recovery rates for lost money in New Zealand are as low as 2% for a variety of reasons. Some firms do not wish to litigate while others have comprehensive insurance, he said.
Mr Leishman said non-management employees are most likely to commit fraud.
