Economic slowdown could foster fraud: KPMG

If the Australian economy experiences a downturn we can expect to see more incidents of workplace fraud, accounting giant KPMG warns.

KPMG's head of financial services, Andries Terblanche, says fraud is destined to become a more common problem for businesses as a result of rising interest rates and an increase in the cost of living.

While banks and other financial institutions are most at risk, KPMG says the issue of fraud has a potential to affect all areas of business during an economic down-cycle, the ABC reports.