Singapore, 3 March 2020 - Fraud and economic crime rates remain at record highs, impacting companies in more ways than ever. PwC’s biennial survey of business crime reports that these incidents are costing businesses. Close to one in four respondents reflected that the direct financial losses they experienced amounted to US$50 million or more, with another 31 per cent saying it was between US$1 mi
More than one in three organisations in Singapore (35%) reported suffering fraud in the last two years, up from 22% in 2016. Of those who suffered fraud, 32% estimate losses linked to the most disruptive fraud at US$1m or above.
Date26 February 2016
ContactCandy Li
Tel: +65 6236 7429
Mobile: +65 8613 8820
E-mail: candy.yt.li@sg.pwc.com
Natalie Choo
Tel: +65 6236 4309
Mobile: +65 9738 1415
E-mail: natalie.yl.choo@sg.pwc.com
With more than 1 in 5 organisations in Singapore reporting being victims of economic crime, it remains an obstinate threat.Increase in money laundering incidents ref
Economic crime against businesses continues to rise globally. Some 24% of Singapore respondents say they have been victims of economic crime, according to the Singapore edition of PwC's 2014 Global Economic Crime Survey. 80% of Singapore-based companies experiencing economic crime encountered asset misappropriation, 15% fell victim to cybercrime and 15% experienced bribery and corruption.