How familiar are you with the fraudulent phenomenon? How well do you understand corporate fraud, respectively the risks of fraud in the business environment? Perhaps most importantly, how well does your business manage the risk of fraud and how solid are the preventive measures that keep your company safe from fraud?
Nearly half of the companies are affected by fraud worldwide, according to PwC’s Global Economic Crime and Fraud Survey 2020. This specialized study on fraud, namely its identification and combating, warns that 47% of companies face fraud – it is the second highest level of fraud in the last two decades.
The existence of the fraud pandemic can no longer be denied and is far too little addressed and discussed in and by the Romanian business environment. Regardless of the industry, fraud can have the most serious consequences for a company: direct or indirect financial losses – fines, operating costs, lawsuits, reputational damage, decreased employee comfort and productivity or even drop of turnover, market share, value per customer or future development opportunities.
Fortunately, the solutions do exist, and it is time to openly and publicly talk about them. Fraud can be prevented and even identified, proven, controlled and stopped, while the damage, recovered.