Summary of Who’s Got Something to Hide?

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Who’s Got Something to Hide? summary
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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.

About the Authors

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

 

Summary

Corporate fraud is increasing: In a 2013 survey, 70% of global executives report that their companies experienced at least one criminal incident that year, up from 61% in 2012. Average fraud costs rose from 0.9% of revenue in 2012 to 1.4% in 2013, and cases of “vendor, supplier or procurement fraud and management conflict of interest” grew the most. Respondents view fraud as more of a threat now than in the past, and many admit that their firms are vulnerable in areas such as the theft of assets, information and intellectual property. Globalization raises the ...


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