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Nations where companies are affected by fraud

This is a list of countries where companies are most affected by fraud, according to the Global Fraud Report released by Kroll Advisory Solutions. The report states the Economist Intelligence Unit Survey Results which shows that battle against information theft remains a leading focus and the biggest threat comes from within.

Africa

Africa tops the list with the largest fraud problem despite improving in the environment. The country saw a decline in overall fraud prevalence from 85% last year to 77% in 2011-12.

Companies affected by fraud: 77%, Information theft, loss or attack: 34%

Theft of physical assets or stock: 32%, Internal financial fraud or theft: 30%

Management conflict of interest: 25%,Corruption and bribery: 20%

Increase in exposure to fraud: 73%, (Photo: Getty

India remains a challenging fraud environment and has the highest number of companies affected by fraud outside Africa.

Companies affected by fraud: 68%,Information theft, loss or attack: 23%

Theft of physical assets or stock: 27%,Internal financial fraud or theft: 22%

Vendor, supplier or procurement fraud: 20%,Corruption and bribery: 20%

Increase in exposure to fraud: 67%,(Photo: Getty Images)

China

Although China’s fraud environment has improved in the last 12 months; the data suggests that a worry complacency may be developing in the country.

Companies affected by fraud: 65%, Information theft, loss or attack: 21%

Theft of physical assets or stock: 27%,Internal financial fraud or theft: 33%

Increase in exposure to fraud: 69%, (Photo: Getty Images)

Indonesia

Companies in Indonesia have experienced a comparatively high overall incident of fraud. About 65% were affected last year when compared to 61% globally.

Companies affected by fraud: 65%,Information theft, loss or attack: 35%

Theft of physical assets or stock: 16%,Internal financial fraud or theft: 19%

Regulatory or compliance breach: 23%,Vendor, supplier or procurement fraud: 16%

Increase in exposure to fraud: 63%

Europe

The number of companies affected by fraud in Europe is slightly higher than the global average of 61%. Information theft and theft of physical assets are the two most common frauds in the country.

Companies affected by fraud: 63%,Information theft, loss or attack: 18%

Theft of physical assets or stock: 23%,Increase in exposure to fraud: 56%

(Photo: ThinkStock

Russia

The frauds affecting companies in Russia is identical to the global average of 61% and marks a large number of individual frauds when compared to the rest of the world.

Companies affected by fraud: 61%,Information theft, loss or attack: 26%

Theft of physical assets or stock: 26%,Corruption and bribery: 16%

Increase in exposure to fraud: 52%

(Photo: ThinkStock)

United States

The number of businesses in United States hit by at least one fraud was down when compared to the global improvement in fraud levels.

Companies affected by fraud: 60%,Information theft, loss or attack: 26%

Theft of physical assets or stock: 24%,Management conflict of interest: 16%

Increase in exposure to fraud: 66%

(Photo: Getty Images)

1.   Mexico

The fraudulent environment in Mexico has improved due to hard work as its most substantial decline was in the area of corruption and bribery.

Companies affected by fraud: 59%,Information theft, loss or attack: 26%

Theft of physical assets or stock: 19%,Vendor, supplier or procurement fraud: 19%

Corruption and bribery: 15%,Increase in exposure to fraud: 56%

(Photo: ThinkStock)

2.       Latin America

Latin American companies experienced a drop in the overall fraud figures to 56% in 2011-12 from 74% in the previous year.

Companies affected by fraud: 56%,Information theft, loss or attack: 16%

Theft of physical assets or stock: 19%,Vendor, supplier or procurement fraud: 16%

Increase in exposure to fraud: 60%

(Photo: Getty Images)

3.    Brazil

More than half of Brazilian companies were hit by fraud in the last 12 months and management conflict of interest was the most widespread problem.

Companies affected by fraud: 54%,Information theft, loss or attack: 14%

Theft of physical assets or stock: 17%,Management conflict of interest: 23%

Increase in exposure to fraud: 74%

(Photo: ThinkStock)

4.      Colombia

Companies in Colombia saw a lower than average fraud prevalence in the last year and the report states that answers in the survey indicated that this may have involved some element of luck.

Companies affected by fraud: 49%,Theft of physical assets or stock: 19%

Vendor, supplier or procurement fraud: 19%,Regulatory or compliance breach: 14%

Increase in exposure to fraud: 46%

(Photo: ThinkStock)

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5.     The Gulf States

The report states that respondents from the Gulf States and Saudi Arabia saw a lower prevalence of fraud than the 61% global average.

Companies affected by fraud: 49%,Theft of physical assets or stock: 18%

Management conflict of interest: 15%

(Photo: Reuters Pictures)

Canada

Companies in Canada are in a better position when compared to other nations in terms of fraudulent environment. The report states that on an average, Canadian firms lost just 0.6% of revenues to fraudsters.

Companies affected by fraud: 47%,Theft of physical assets or stock: 24%

Management conflict of interest: 14%,Increase in exposure to fraud: 58%

(Photo: Getty Images)

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