UK economic crime figures show both fraudsters and fraud schemes are maturing.
Join the conversation on Twitter: #PwCcrimesurvey
We have been running a global economic crime survey for 15 years; over this time regulatory regimes have tightened and billions of pounds have been spent, but there has been no significant decrease in fraud.
Our 2016 results in the UK show that internal fraudsters are getting older and more senior, and more capable of circumventing the rules. They also show that the external threat is rising with perpetrators using new technologies to commit crime. So whilst most traditional frauds have fallen since 2014, cybercrime has risen dramatically, and HR and accounting fraud are also increasing.
The challenge for businesses, is to minimise the opportunities to commit economic crime, including new and emerging threats, and innovative ways to prevent, detect and respond effectively to those threats. It’s also vital to ensure that the organisation has a culture based on strong shared values, which is supported by robust policies, and a rigorous ethics and compliance programme which is integrated into day-to-day decision-making.
Our survey this year focuses on three key issues for organisations in the UK:
David Green, Director, Serious Fraud Office
Download Economic Crime Survey 2016
Mark AndersonPartner, Global Corporate Intelligence Leader
Tel: +44 (0) 20 7804 2564
Tracey GrovesPartner, Compliance & Business Ethics
Tel: +44 (0) 207 804 7131
Kris McconkeyPartner, Cyber Threat Detection & Response
Tel: +44 (0) 207 804 2471