Explore how fraud and corruption is impacting the mining sector
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Tim Robinson, Crowe
“Fraud and corruption are not just reputational risks but represent significant, hidden costs. Work to counter fraud and corruption within mining should be focussed on pre-empting fraud rather than having to react after it has happened and losses have been incurred. The bad news is that the cost of fraud is significant and increasing; the good news is that something can be done to reduce that cost, and like with any cost, that can improve profitability.”
Expert views
"Mining is one of the most high risk sectors for fraud and this report highlights the challenges of dealing with it and offers important insights on how best to tackle the problem."
Mark Button, University of Portsmouth
Expert views
What can be done to prevent fraud and corruption?
What is fraud and corruption in mining?
Key risk factors
Case studies and what can be done
What is the extent of fraud and corruption?
Background and introduction
How much is the cost of fraud?
Fraud and corruption can lead
to less financially stable and healthy mining companies
The global cost of fraud is more than £4.37 trillion
Fraud represents 6.4% of expenditure (up from 6.05% in 2019)
In association with the University of Portsmouth’s (UoP) Centre for Cybercrime and Economic Crime
Only as little as 1/30th of fraud and corruption is detected
Practical action can reduce the cost of fraud by up to 40% within 12 months
Our report covers:
In association with the University of Portsmouth’s (UoP) Centre for Cybercrime and Economic Crime
Expert views
Only as little as 1/30th of fraud and corruption is detected
Practical action can reduce the cost of fraud by up to 40% within 12 months