The 4th biennial global economic crime survey
Despite heightened efforts to control economic crime, it continues to pose a significant and growing threat to companies around the world, and New Zealand is no exception. According to the Global Economic Crime Survey 2007 released today by PricewaterhouseCoopers, economic crime is a fact of life for business in New Zealand.
The Survey 2007 was conducted on behalf of PricewaterhouseCoopers and interviewed 5,428 leading organisations globally, 894 in the Asia-Pacific region and 78 in New Zealand. Results were compiled by independent experts and reported to PwC to protect the anonymity of those surveyed.
The number of organisations having experienced an economic crime incident (67% of respondents) is significantly higher in New Zealand than in the Asia-Pacific region and globally.
For those New Zealand respondents that suffered from an economic crime, the total loss was more than NZ$69.5 million, with an average loss of NZ$1m. Alarmingly, 20% of New Zealand organisations that reported an incident of economic crime suffered significant losses of between NZ$1.35m and NZ$13.5m.
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