Our survey reveals that fraud remains one of the most problematic issues for business worldwide. Despite the attention by regulators and investment companies in controls, the actual level of economic crime and the associated financial and non-financial damages have not decreased – one out of every two companies globally, fell victim to economic crime in the past two years.
While companies continue to develop systems and controls to both detect and deter economic crime, fraud controls alone are not enough. A company’s ethical culture plays an equally important role in deterring fraud.
To help industry leaders understand and confront the threat of economic crime, PricewaterhouseCoopers undertakes a biennial, worldwide study into the impact of fraud on business. Working in conjunction with the Economic Crime Research Centre at Martin- Luther-University in Germany and the international research agency, TNS Emnid, this pioneering research project remains the most comprehensive survey of economic crime available to businesses.
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