01 March 2012


Corporate criminals are prospering amid tight economic times, a survey on global fraud has found.
The report by accounting firm Pricewaterhouse Coopers found white-collar crime was a growing threat, and the mining sector was a particular target.
"The typical business criminal is an employee, typically they're male and they've been employed between three and five years in the organisation and usually have a managerial role," PWC forensic partner Malcolm Shackell said.
The report found cybercrime was the second most reported economic crime, as individuals have more ways to access information in an organisation.
The criminals are selling disused equipment, which can be very valuable, particularly in the mining sector.
Also, interestingly, there is a thriving black market around old assets, particularly in industries such as mining and also construction.
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