It's tech versus old school detection in white-collar crimes

Singapore

OLD-FASHIONED investigation tactics versus technology-savvy criminals seems to be the norm in corporate white collar crimes. A new report by KPMG shows that technology was a significant enabler for 24 per cent of the 750 fraudsters involved in white-collar crimes across 81 countries, including Singapore. In contrast, technology did not feature much in the detection process which caught these fraudsters.

The report, Global Profiles of the Fraudster, shows that proactive analytics plays an astonishingly minor role in combating fraud, with only 3 per cent of the fraudsters being detected in this manner.

For the report, data was gathered from fraud investigations conducted by KPMG member firms' forensic specialists in Europe, Middle East and Africa (EMA), the Americas, and Asia-Pacific between March 2013 and August 2015. The survey examined "white collar" crime investigations conducted across the regions where …