“PwC” is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm.
- Main perpetrator of the most serious fraud (percentage of those who experienced economic crime in the last twelve months)
- Internal fraudster 56%
- External fraudster 40%
- Top four industries experiencing fraud:
- Communication 48%
- Insurance 48%
- Government / state-owned enterprises 46%
- Hospitality and leisure 45%
- Provision of cyber security awareness training:
- No cyber security training in the past twelve months 43%
- Emails or posters 40%
- Face-to-face training 25%
- Computer-based training 22%
- 23% of those, who reported economic crime in the last twelve months, experienced cybercrime
What is that “Asset misappropriation”?
In law, misappropriation is the intentional, illegal use of the property or funds of another person for one’s own use or other unauthorized purpose
Asset misappropriation fraud happens when people who are entrusted to manage the assets of an organisation steal from it. Asset misappropriation fraud involves third parties or employees in an organisation who abuse their position to steal from it through fraudulent activity. It can also be known as insider fraud.