New Study Reports That More Than 80% of Companies Exposed to Fraud

A new study released by Kroll and the Economist Intelligence Unit revealed that a majority of global companies are exposed to fraud.  The report states says that companies with over $5 billion in gross revenue lost an average of more than $20 million from fraud-related damages over the past three years. Even more remarkably, one out of every ten large companies lost over $100 million due to fraud over the same period.  This upward spike could suggest one of two possibilities: (1) global corporate compliance programs require more internal support and funding, or (2) escalation and reporting processes in compliance programs are more efficiently identifying and reporting fraudulent activity, but there really is not necessarily more wrong-doing taking place in global companies. 

 Is the glass half full?  You decide.  See the 2007 Corporate Fraud Report.

Advertisements