PwC’s Global Economic Crime and Fraud Survey 2020

Ukrainian findings: Fraud Labyrinth without an exit?

Останні 20 років Всесвітнє дослідження економічних злочинів та шахрайства, яке проводиться PwC, залишається однією з провідних світових аналітичних публікацій з питань економічних злочинів.

Метою Всесвітнього дослідження економічних злочинів та шахрайства є оцінка ставлення до шахрайства й економічних злочинів та їхнього впливу на організації в усьому світі.

Зростання обсягів шахрайства та економічних злочинів має дедалі більші наслідки для українських компаній і змушує їх шукати відповіді на складні запитання: чи є наша програма управління ризиками достатньо гнучкою, щоб долати динамічні виклики, які виникають у глобалізованому бізнес-середовищі? Чи ефективно ми використовуємо усі можливості сучасних технологій? Як ми реагуємо на кризові ситуації? Чи підготовлені ми до найгіршого варіанту розвитку подій?

Over the last 20 years PwC’s Global Economic Crime and Fraud Survey (GECS) has been one of the premier thought leadership publications on economic crime globally.

The aim of GECS is to assess corporate attitudes towards fraud and economic crime and how these, in turn, have impacted organisations all over the world.

The continued rise of fraud and economic crime is impacting many more Ukraine-based companies in more diverse ways, posing difficult questions for organisations: is our risk management programme agile enough to meet the dynamic challenges being thrown up by a globalised business environment? Are we leveraging technology effectively? How are we responding in crisis situations? Are we prepared for the worst-case scenarios?

Key Ukrainian findings

Fraud continues to hit record highs—impacting more companies in more diverse ways than ever. Well over half of Ukrainian companies told us they had experienced fraud in the past 24 months. 

Asset Misappropriation and Bribery and Corruption are the top types of fraud reported.

Share of fraud by external parties increased slightly: from 36% in 2018 to 41% in 2020, while the share of fraud by internal actors has decreased from 56% in 2018.

However, nearly half of Ukrainian respondents either don’t perform, or perform only informal, risk-based due diligence and ongoing monitoring of third-parties.

26% of Ukrainian companies lost from 50,000 to 1 million US$ through the fraud over the last 24 months.

3% of Ukrainian respondents reported fraud losses of more than 5 million US$.

Every 4th organisation in Ukraine does not have dedicated risk programme, a huge area for improvement.

And when fraud hits? Surprisingly, 41% of Ukrainian companies did not conduct an investigation after the last major fraud. And barely one-third reported it to their board.

How to find your way out from Fraud Labyrinth?

Taking action: 

being prepared

●  Identify, rank and address risks
●  Back up anti-fraud technology with the right governance, expertise and monitoring
●  Take notice of fraud when it happens


doing the right thing

●  Get to the root of the problem
●  Get external assistance to investigate
●  Disclose to board and government authorities

Emerging stronger: 

measuring success

●  Enhance internal controls, policies and procedures
●  Introduce new technologies
●  Conduct training 

Contact us

Marcin Klimczak

Marcin Klimczak

Partner, Forensic Leader, PwC Poland, Ukraine and the Baltics

Tel: +48 227 464 087

Andriy  Tretyak

Andriy Tretyak

Forensic Services Leader, PwC in Ukraine

Tel: +380 44 354 04 04

Bogdana Tyshchenko

Bogdana Tyshchenko

Senior Manager, Forensic Services, PwC in Ukraine

Tel: +380 44 354 04 04

Dariia Riabova

Dariia Riabova

Senior Manager, Forensic Services, PwC in Ukraine

Tel: +380 44 354 0404

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