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Who’s Got Something to Hide?
Report

Who’s Got Something to Hide?

Searching for Insider Fraud

Kroll and Economist Intelligence Unit
Kroll, 2014
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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Increased globalization and technological innovation have multiplied opportunities for crime in areas such as information theft, procurement and management conflict of interest. While some firms have enhanced efforts to detect malfeasance, others have done little to stem what threatens to become a powerful tide. In its international survey of 901 corporate executives, risk management firm Kroll – assisted by the Economist Intelligence Unit – does an admirable job of assessing corporate fraud and its future prospects. getAbstract recommends this comprehensive report to senior executives, risk managers and others responsible for detecting and combating corporate fraud.

Take-Aways

  • In a 2013 survey, 70% of companies reported experiencing at least one instance of fraud, up from 61% the prior year. Average fraud costs rose from 0.9% of revenue in 2012 to 1.4% in 2013.
  • Information theft occurred in more than 20% of companies, yet almost one-third of firms report no IT security expenditures, and many lack a cohesive response plan.
  • At the heart of most fraud is a “careless, vengeful or malicious employee” or contractor. Other employees are a firm’s best defense: Whistle-blowers’ warnings helped in revealing 41% of fraud cases involving middle and senior managers.

About the Authors

Kroll is a global provider of risk management solutions. The Economist Intelligence Unit is an independent research and analysis organization.

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