Point of View

Under Point of View we summarize the key findings from global surveys carried out by leading firms/ professional bodies on the subject of Integrity & Fraud. 

2020 ACFE Report to the Nations

  • 2504 Case covered from 125 countries causing total loses of over $ 3.6 billion
  • Typical fraud case lasts 14 months before detection
  • CFEs estimate that organizations lose 5% of revenue to frauds
  • Corruption was the most common scheme across regions, Asset misappropriation are the most common and least costly
  • Lack of internal controls contributed to 1/3rd of Frauds
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EY Global Integrity Report June, 2020

  • Demonstrating integrity – 50% of respondents believe strengthening reputation
  • Disruption to traditional working patterns, e.g. increase in remote working 33% respondents believe top risks to ethical conduct
  • 53% of junior employees are not entirely confident that management abides by the relevant laws, codes of conduct and industry regulations.
  • 13% of all respondents would be prepared to ignore unethical conduct by third parties in order to boost their career or pay.
  • 86% of those surveyed said they are fairly or very confident that their organization is doing everything needed to protect the privacy of customer data.
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PWC Economic Crime & Fraud Survey 2020

  • 47% told us they had experienced fraud in the past 24 months. This is the second highest reported level of incidents in the past 20 years.
  • 6 incidents of Fraud on average, companies reportedly experienced 6 incidents in the last 24 months.
  • Top 4 types of fraud Types
  • Customer Fraud
  • Cybercrime
  • Asset Misappropriation
  • Bribery and Corruption
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Kroll Global Fraud and Risk Report 2019/20

  • 39% respondents stated that Leaks of internal information incidents have significantly affected organizations in the last year 
  • 50% respondents stated Data theft is the High Priority Risk for them
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Analysis of Top 100 Banks Frauds CVC (India)

The rising trend in Bank frauds has been a cause of concern at all levels. In view of the alarming rise in Bank frauds, the Central Vigilance Commission has undertaken a review and analysis of top 100 Banks Frauds, as on 31.03.2017. 1. The analysis mainly focused on 

  • the Modus- operandi; 
  • Amount involved; 
  • Type of lending viz. Consortium/ Multiple/Individual; 
  • Anomalies observed; loopholes that facilitated perpetration of concerned fraud and systemic improvements required to plug the loopholes in the system & procedures, etc. 

The Top 100 Banks frauds were classified and analysed into various sectors. Read the full report at

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