Of all the countries surveyed, India had the highest incidence of fraud in four categories
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Mumbai: The number of incidences of fraud cases in India, has gone up 11 per cent according to the Kroll Global Fraud Report where 80 per cent of the India-based executives who responded to the survey were affected by fraud.
Of all the countries surveyed, India had the highest incidence of fraud in four categories — corruption and bribery (25 per cent of companies), regulatory compliance breach (20 per cent), IP theft (15 per cent) and money laundering (7.5 per cent).
Reshmi Khurana, managing director and head of South Asia for Kroll, said, “India has one of the highest incidence of fraud (4 out of the 11 fraud types) assessed by the survey.
Further, 92 per cent of Indian respondents have confirmed that their firms have seen an increased exposure to fraud in the last year. This is consistent with our experience on-the-ground in India.” She said despite these rising concerns, companies in India are not investing in the appropriate anti-fraud strategies.
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( Source : deccan chronicle )
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