2018 Global Economic Crime and Corporate Fraud Survey
Economic crime and corporate fraud have dramatically increased across all territories in recent years. PwC’s 2018 Global Economic Crime and Fraud Survey finds out that 49% of global organizations say they’ve experienced economic crime in the past two years.
But what about the other 51%? Have they avoided falling victim – or simply don’t know about it? Since corporate fraud hides in the shadows, one of the most powerful weapons in a fraudster’s armory is a lack of awareness within organizations.
It’s high time for all businesses to recognize the true nature of the fraud threat: not as just a nuisance or cost of doing business, but a shadow industry with tentacles in every country, sector, and function.
49% of organizations globally said they’ve been a victim of fraud and economic crime – up from 36%
64% of respondents said losses due directly to their most disruptive fraud could reach US$1 million
52% of all frauds are perpetrated by people inside the organization
31% of respondents that suffered fraud indicated they experienced cybercrime