Kroll Global Fraud Report Reveals Significant Surge In Corporate Fraud
he number of companies falling victim to fraud has increased in the past year, according to the 2013 Kroll Global Fraud Report. Overall, 70 percent of companies were affected by fraud in the past 12 months, up from 61 percent the previous year, with an increase in every category of fraud covered by the study.
The report reveals that the globalization of business is increasing exposure to fraud, as businesses seek expansion into riskier overseas markets and use greater levels of outsourcing. The sharpest increase was in vendor, supplier or procurement fraud, suffered by one in five businesses (19 percent), up from 12 percent last year. Of those companies that fell victim to fraud in the past 12 months, one third (30 percent) experienced fraud perpetrated by vendors or suppliers while 11 percent suffered at the hands of joint venture partners.