Economic crime: the ongoing challenge for compliance and risk professionals
Economic crime remains a significant and growing threat to organisations across the globe. The results of PricewaterhouseCooper's 2005 global economic crime survey revealed that 45% of organisations worldwide have been a victim of economic crime over the past two years, with that figure rising to 55% in the UK.
Historically, the public shame associated with being a victim of fraud ensured that the issue was pushed into the shadows. This lack of transparency has hindered the development of fraud awareness, understanding and, consequently, effective anti-fraud policies within organisations. For compliance and risk professionals, combating economic crime remains critical in the protection of the financial
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