The Global Economic Crime and Fraud Survey examines over 7200 respondents from 123 countries. Overall, 49% of respondents, said their companies had suffered fraud in the last two years, up from 36% in 2016. Regionally Africa (62% up from 57%), North America (54% up from 37%) and Latin America (53% up from 28%) reported the highest levels of economic crime.

Asset misappropriation (45%) continues to lead in economic crime experienced by organizations in the last 24 months, cybercrime (31%), consumer fraud (29%) and business misconduct (28%) are close behind. This year’s survey revealed a significant increase (+6% to 52%) in the share of economic crime committed by internal actors.

There was also a jump in the percentage of those crimes attributed to senior management (from 16% in 2016 to 24% in 2018). However there are regional variations. In Australia (64%), the UK (55%), Canada (58%); Argentina (44%) and the US (48%), most reported crime was committed by external actors.

The results underline the greater awareness and understanding of the types of fraud, perpetrators, the role of technology, and fraud’s potential impacts and costs for a business.