Not surprisingly, the global economic downturn has significantly affected most organisations, with 62% of respondents having reported a decline in financial performance over the last 12 months and 40% of all respondents having reported a decline in financial performance over the last 12 months 40% of all respondents saying the risk of economic crime had risen due to the recession. Indeed, almost half of our respondents believed that the incidences ad cost of fraud (43% and 42%, respectively) experienced in the past year were greater compared to 12 months ago.
Given the 40%-60% split in views as to whether the recession had increased the risk or the incidence of economic crime, we expected that the 38% of organisations reporting no impact of a downturn would have better, that is lower economic crime experience. We found, however, that organisations that had not suffered from an economic downturn reported similar levels of economic crime as compared to those whose businesses had declined. We also expected that respondents reporting a stable level of financial performance would have reported fewer frauds, but they report the same frequency of incidents as the 62% or respondents reporting a decline.
Read the rest of the report here.
Given the 40%-60% split in views as to whether the recession had increased the risk or the incidence of economic crime, we expected that the 38% of organisations reporting no impact of a downturn would have better, that is lower economic crime experience. We found, however, that organisations that had not suffered from an economic downturn reported similar levels of economic crime as compared to those whose businesses had declined. We also expected that respondents reporting a stable level of financial performance would have reported fewer frauds, but they report the same frequency of incidents as the 62% or respondents reporting a decline.
Read the rest of the report here.
