When it comes to fraud and white-collar crime, one thing is clear: Most companies lack a clearroad map and direction to address it. This createsan environment where fraudulent acts can occur andcontinue unchecked. According to a new survey from Protiviti and the Economic Crime and Justice Studies Department at Utica College, many organizations are under-resourced and “putting out fires” far more often than they’re focusing on proactive fraud detection and conducting investigations consistently.
For more information, visit Protiviti.com/FraudSurvey. © 2016 Protiviti Inc. An Equal Opportunity Employer M/F/Disability/Veteran.
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Taking the Best Routeto Managing Fraud
and Corruption Risks
Percentage of organizationsin which internal resources
have limited availabilityto address fraud risk
4747Percentage of
organizations in which the fraudrisk strategy is considered
“well defined”
1717Percentage of organizationsthat conduct a formal fraud
risk assessment atleast annually
5252
Percentage of organizationsthat do not conduct duediligence on business
intermediaries (third parties)prior to onboarding
* Includes “Don’t know” responses
3535Percentage of organizationsthat don’t conduct any
formal fraud riskassessment*
* Includes “Don’t know”responses
2727Percentage of midsize and small
companies, respectively,that lack a fraud
detection program
55 and 6855 and 68
Percentageof organizations
that utilize ongoingforensic data analysis
to identify potential red flags and fraud indicators
1414Percentage of organizations
that have a high level ofconfidence in their vendor
fraud and corruptionrisk oversight
66
*