Global Economic Crime Survey 2011

A view on Greece

The 6th Global Economic Crime Survey was conducted by PwC in collaboration with Professor Peter Sommer, visiting Professor at LSE and Open University, between June and November 2011. The survey was completed by approximately 4,000 respondents from 78 countries, including Greece, and turns the spotlight on the growing threat of cybercrime.
In the context of the global survey, PwC Greece conducted its second study specifically for the country, involving a total of 92 senior executives. The study compares the results with the corresponding survey for Greece conducted in November 2009.

You can find below the main findings and graphs from the greek report.


Main Findings
  • Economic crime is taken more seriously and 80% of respondents took civil action against the perpatrator
  • 75% of respondents who experienced economic crime in the past 12 months said they faced asset misappropriation
  • 63% of respondents believe economic crime comes from within the organisation and 31% externally
  • 25% of respondents who declared they experienced economic crime said they discovered it through Internal Audit
  • Since 2009, there has been a 5% increase in the financial cost incurred by organisations in Greece due to economic crime
  • But organisations in Greece are still reluctant to acknowledge they have experienced economic crime, compared to Western Europe and internationally

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  • Almost half of the survey participants are paying more attention to cybercrime
  • 55% of respondents consult with external experts on a routine basis
  • Those respondents who believe cybercrime is an internal threat, see it mostly coming from the Operations and IT departments
  • Those respondents who believe cybercrime is an external threat, see it mostly coming from the USA, Russia and Hong Kong and China
  • The majority of respondents monitor social media sites, in regard to their usage by employees
  • 46% respondents consider face to face training to be the most effective way to raise employee awareness of cybercrime
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For the latest global findings specifically in the financial services industry, please click here.