The Anti-Corruption Taskforce's first report suggests public sector fraud is almost certainly under-reported.

It analysed six agencies - including Corrections, Inland Revenue and Sport New Zealand.

The Serious Fraud Office-led taskforce found 446 suspected cases of internal fraud or corruption, over 15 months. 

Transparency International NZ executive director Julie Haggie says this is a 'significant' report highlighting many internal issues. 

LISTEN ABOVE