Executive Briefings

Almost 40 Percent Report Economic Crime in Their Businesses, And It Seems to Be on the Increase

Thirty-seven percent of more than 5,000 respondents reported economic crime in their organizations, with the categories of bribery and corruption and cybercrime experiencing notable growth, according to PwC in its latest Global Economic Crime Survey.

Those reporting economic crimes represented a 3 percent increase on 2011, when PwC conducted its previous survey. Asset misappropriation, procurement fraud, bribery and corruption, and cybercrime were the four most reported of 14 economic crimes.

“Economic crime remains a fundamental fact of life for every segment of the global business community - and is a persistent threat to business and business processes,” PwC concluded.

The firm surveyed 5,128 respondents from 99 countries. Of that sample, 50 percent were senior executives, 35 percent represented listed companies and 54 percent represented organizations with more than 1,000 employees.

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Those reporting economic crimes represented a 3 percent increase on 2011, when PwC conducted its previous survey. Asset misappropriation, procurement fraud, bribery and corruption, and cybercrime were the four most reported of 14 economic crimes.

“Economic crime remains a fundamental fact of life for every segment of the global business community - and is a persistent threat to business and business processes,” PwC concluded.

The firm surveyed 5,128 respondents from 99 countries. Of that sample, 50 percent were senior executives, 35 percent represented listed companies and 54 percent represented organizations with more than 1,000 employees.

Read Full Article