Ernst and Young (EY) have released their annual Global Fraud
Survey results which follows the questioning of over 2,700 board
members, executives, managers and teams from a broad range of
businesses across 59 countries. The Global Survey presents an
overview of global opinion on fraud, bribery and corruption and the
matters which are, or should be, of greatest concern to businesses
throughout the world.
New and emerging risks such as cybercrime, which has hit at
least 93% of the UK's big businesses in the past financial
year, are identified in the survey report as being
underappreciated. Cybercrime was considered by 67% of respondents
to the survey as a low or low / fairly low risk. At the
outset, there is little a company can do to mitigate a risk it does
not believe exists. The report serves as a much needed
reminder to companies to be aware of the new risks continually
arising in ever-changing markets as well as the more traditional
risks of fraud.
