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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Swiss courts in dealt with 68 major cases of white-collar crime last year causing losses of CHF567 million ($571 million).
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