Global Economic Crime Survey 2014Key highlights from the UK

Types of fraud

www.pwc.co.uk/crimesurvey | ©PwC 2014

Perpetrator

There’s been a bigrise in the proportion

of economic crime committed by employees.

5,000Over

respondents worldwide

372UK respondents,

double that of 2011

The more senior the respondent, the less fraud they reported in their organisation.

of organisations who experienced fraud, experienced accounting fraud in 2011. In 2014, this has fallen to

41%2014

34%2011

Most frauds committed by staffare now committed by junior staff.

Bribery: A threat to expansion?

Cybercrime: A growing risk?

UK organisations report less than half the amount of bribery as the global average.

9% of UK organisations have reported that they’ve been asked to pay a bribe in the last year despite 41% having operations in high risk territories.

87% of organisations in the UK have made changes to their policies and procedures because of the UK Bribery Act.

Nearly two-thirds of respondents felt their awareness of cybercrime was greater than it was two years ago despite the UK reporting a fall in the percentage of organisations reporting cybercrime.

Detecting Fraud: What works best? The most effective methods of detecting fraud are suspicious transaction monitoring and fraud risk management.

83% of organisations in the UK have whistleblowing mechanisms but nearly 40% hadn’t been used in the last two years.

A lot of cybercrime may be going unreported and/or undetected. A recent PwC/BIS survey showed that 93% of large organisations had experienced a cyber breach in the last year.

UK: 12%

93%

41%

87%

9%

40%83%

£

The Design Group 21634 (01/14)

£

Global: 27%

37%

of organisations in the UK reported some type

of fraud, above theglobal average of

51%

44%

of organisations experienced economic crime in 2011. In 2014,

it’s dropped to 44%

The majority of respondents felt that the number of

instances and financial impact of economic crime

had increased in the last two years

14%

35%

said that they suffered a procurement fraud, a new category in 2014.22%

45%Juniorstaff