Fraud by employees rose sharply in 2011, but the figures imply that internal controls against fraud have also become much more effective, according to a survey released on May 11 by the UK non-profit fraud information sharing service Cifas.
The study found a 14.5% increase in staff frauds from 2010, with 378 reported by Cifas members this year. But 44% of the frauds were discovered by companies' own internal controls. In contrast, a KPMG study in 2011, covering the period from 2008 to 2010, foun
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