Fraud is a significant burden on the mining industry and is likely to cost companies an average of 5.85% of turnover every year, but catching it before it happens is often the best weapon to combat this scourge.This figure is based on 20 years of data across more than 40 sectors, including natural resources, and the true cost to the mining industry is likely to be much higher, owing to the inherent fraud issues facing the sector and the endemic fraud issues in mining hotspots around the world, UK-based audit, tax and advisory firm Crowe Clark Whitehill head of forensic and counter fraud services Jim Gee tells Mining Weekly Online in an email interview.
