Financial statements and/or other documents are altered or presented in such a way that they do not reflect the true value or financial activities of the organisation. This can involve accounting manipulations, fraudulent borrowings/raising of finance, fraudulent application for credit and unauthorised transactions/rogue trading.
Criminal violations of laws that promote or maintain market competition by regulating anti-competitive and unfair business practices conduct by organisations. Examples may include price fixing, excessive, predatory or discriminatory pricing, unfair trading terms, and tying (i.e. stipulating that a buyer wishing to purchase one product must also purchase all or some of his requirements for a second product).
The theft of assets (including monetary assets/cash or supplies and equipment). This includes embezzlement and deception by employees or theft of company property or assets by outsiders.
The unlawful use of an official position to gain an advantage in contravention of duty. This can involve the promise of an economic benefit or other favour, the use of intimidation or blackmail. It can also refer to the acceptance of such inducements. Specific examples include kickbacks, extortion, gifts (with strings attached), facilitation payments, etc.
Brute force attack
Repeatedly guessing passwords to gain access.
Business conduct/ Misconduct (e.g. Incentive abuse)
Frauds or deception by companies upon the market or general public. Deceptive practices associated with the manufacturing, sales, marketing or delivery of a company’s products or services to its clients, consumers or the general public.
Any criminal offense committed by or facilitated through the use of computer equipment.
Malicious activity aimed at affecting the availability, confidentiality or integrity of computer systems for data.
Cyber Security Program
The people, processes and technology that assess, build, manage and responds to cyber security risk within an organisation.
Computer malware that installs covertly on a device and locks the system until a sum of money is paid.
Incentives and/or pressures to perform
The individual has some financial problem that he/she is unable to solve through legitimate means so he/she begins to consider committing an illegal act as a way to solve the problem. The financial problem can be professional (e.g., job is in jeopardy) or personal (e.g., personal debt).
Intellectual Property (IP) theft
IP theft including the theft of intellectual property and trade secrets as well as the intentional criminal use of a patent, copyright or trademark and the trafficking of counterfeit products and services. This does not include non-criminal infringement of a patent, copyright or trademark that can be remedied under civil law.
Insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, non-public information about the security. Insider trading violations may also include ‘tipping’ such information, securities trading by the person ‘tipped’, and securities trading by those who misappropriate such information.
Man in the middle
The creation of a website that appears to be yours and passes information between you and the end user, deceiving the end user into providing information to the bad actor.
Actions intended to conceal or legitimise the proceeds of crime by disguising their true origin, thereby making illegally-gained proceeds (i.e. "dirty money") appear legal (i.e. "clean").
Illegal conduct involving the purchase of services, goods or assets for the affected organisation, or involving bid/tender processes.
These are used to ascertain whether an organisation has undertaken an exercise to specifically consider:
The risks to which operations are exposed;
An assessment of the most threatening risks (i.e., Evaluate risks for significance and likelihood of occurrence);
Identification and evaluation of the controls (if any) that are in place to mitigate the key risks;
Assessment of the general compliance related programs and controls in an organisation; and actions to remedy any gaps in the controls.
An illegal practice where an organisation or corporation intentionally avoids paying its true tax liability.
Principal, Global Economic Crime and Fraud Survey Leader, PwC United States
Tel: +1 (646) 818 7263