Global Economic Crime and Fraud Survey 2018
43% of Greek
respondents experienced fraud or economic crime
spent the same or more on investigations than directly lost due to fraud
perceive cybercrime as the most disruptive crime for the following 2 years
45% of fraud
was committed by internal actors
The survey reveals that Greece has a low recognition of fraud and its impact on employee morale, business relations and reputation. With direct monetary losses between $100.000 and $5 million in almost half of the cases, the fact that one third of the Greek organisations intends to increase funds to combat fraud and economic crime is encouraging. However, these investments should be a result of bringing fraud prevention and detection to the first line of defence rather than responding to a stricter regulatory regime. Nevertheless, even though there is a wealth of innovative technologies such as predictive analytics and machine learning, on which organisations can invest to form their shield against fraud, the human factor should not be neglected, as ultimately human behaviour becomes the most critical factor in the decision to commit fraud, especially when it comes to internal fraud.
Explore the Greek survey result highlights below or find out more in PwC’s 2018 Global Economic Crime and Fraud Survey.