A challenging economy, new regulations, and a tougher anti-corruption enforcement environment have converged to push the reporting of corporate fraud to record levels.
According to the latest quarterly Corporate Fraud Index released by the Network and BDO Consulting, fraud-related reports—including incidents of corruption, misuse of assets, conflicts of interest, and Foreign Corrupt Practices Act violations by employees—rose last quarter to 20.8 percent of all compliance reporting activity, its highest peak since the index was created in 2005. The data is based on analysis of more than 1,000 organizations worldwide. The total number of reported fraud-related incidents also jumped, from 5,963 ...