A compliance program may look great on paper. In reality, however, keeping compliance simple and effective can be quite cumbersome and difficult for many compliance practitioners. While the ultimate goal for a compliance program is to create a culture that fosters ethical conduct, many organizations find themselves struggling to get employee buy-in.
According to the 2015 Global Fraud Report by corporate investigations and risk consulting firm Kroll, about three-quarters of companies around the globe experienced fraud in the last year, 81 percent of which were reported to be inside jobs. Overall, the companies surveyed saw a 72 percent increase in fraudulent activity from the previous year. Roughly 69 percent of 768 executives surveyed worldwide said the fraudulent acts resulted in a financial loss, which also increased from 64 percent in the previous period to 69 percent in 2015.
