The seventh edition of the Global Fraud Report released by Kroll, a corporate investigation firm, reveals that Indian companies feel vulnerable when it comes to fraud, Times of India reported. The report says that 71 per cent of Indian respondents feel that their exposure to fraud has increased. Last year this number was 67%. On the whole, 70% of those polled globally feel that they suffer from at least one kind of fraud.
The figures indicate that specific types of fraud, which includes insider fraud, are quite high in India. Of those companies which suffered from fraud, 89 per cent indicated that the perpetrator was an insider, the report added. 69% of those surveyed in India feel that junior employees appear to be the leading culprits. This number is far higher than that experienced in Brazil, Russia and China. The report is based on responses of more than 901 senior executives worldwide, including 51 in India.
Read the complete report here