Global Economic Crime Survey 2016: Middle East report

Adjusting the Lens on Economic Crime in the Arab World

Economic crime remains as tough to tackle as it's ever been

PwC has been surveying trends in global economic crime since 2001. In that time, despite efforts to combat economic crime, there has been no clear indication that levels in the Middle East or globally have decreased. Economic crime remains as tough to tackle as it's ever been.

In the Middle East, 26% of respondents indicated that their organisation reported economic crime in the last 24 months. This is lower than the global average of 36%. While the reported number of affected organisations in the Middle East was lower, the number in the region who simply didn’t know if they’d been a victim was much higher than the global average (20% against 11%). This is a cause for alarm, and points to a serious lack of trust by executives in their systems to identify economic crime as it occurs. A concern made all the more prominent by the fact that over 50% of the organisations surveyed had not, or did not know if they had conducted a fraud risk assessment during the previous two years.

Participation chart: over 290 completed surveys, across 12 countries, surveyed in 2 different languages

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Participation statistics

Spotting economic crime by accident remains one of the most common ways of detecting incidents

Has your organisation experienced any economic crime within the last 24 months?

Top 4 most commonly reported types of economic crime in 2016

How does the Middle East compare to the rest of the world

Region Reported economic
crime in 2016
Reported economic
crime in 2015
Africa 57% 50%
Western Europe 40% 35%
North America 37% 41%
Eastern Europe 33% 39%
Asia Pacific 30% 32%
Latin America 28% 35%
Middle East 26% 21%
Global 36% 37%

Economic crime is a risk that is hard to unseat

Constantly evolving and seeking new forms, it requires constant vigilance from the Boardroom via the C-suite to middle management and the shop floor. But some Middle Eastern organisations have perhaps adopted a one-time; one solution approach to this challenge which is reactive, irregular and inconsistent. Unfortunately this is like cutting the head off a hydra. Others quickly grow back. The battle to combat economic crime is not so easily won.  

Contact us

Nick Robinson
Forensics and Capital Projects Services Leader
Tel: +971 4 304 3974
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John Wilkinson
Partner
Tel: +971 4 304 3100
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Tareq Haddad
Middle East investigations Leader
Tel: +971 4 304 3325
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Achraf El Zaim
Partner - Forensic Services
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