According to the SWI, the total amount of money involved was CHF581 million ($658 million), CHF14 million more than in 2021, KPMG said. Actual numbers of cases are meanwhile likely to be much higher, since many go unreported, it added. Public institutions bore the brunt of almost three-quarters of the total damage.
According to KPMG, the high attractiveness, of the public sector for economic crime is due to the level of funds administered, as well as the often complex structure of public institutions, which can lead to weaker internal control systems.
As for the increase, one reason given was that “white-collar criminals have found new ways and means of fraudulent activity in the wake of the corona pandemic”.
Last year, seven cases were heard in connection with Covid-19 loans issued during the pandemic by public authorities. The report, which is released annually, analysed public and media-published court cases in connection with white-collar crime cases involving at least CHF50,000.
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2Honoured to be featured in The League Extraordinaire by The New Indian Express Group alongside 32 distinguished leaders. Grateful to Shri Eshwar B. Khandre and Shri Jagadish Shettar for the felicitation, and thankful to everyone who has supported my journey. 🙏✨
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