Corporate Fraud Risks Are On The Rise

In its recently released 2008 Global Fraud Report, The Economist Intelligence Unit and Kroll stated that corporations are reporting an overall 22% increase in fraud in 2008 as compared to a similar survey conducted in 2007.  The report noted that weakened internal controls and high staff turnover were the leading cause of the fraud increase.  The average company in the survey lost more than $8 million due to fraud at some point during the last three years.  Can your company afford these fraud risks and the potential impact on other areas such as public image, reputation and the resulting impact on shareholder return?  Share your thoughts below.  Also, to read more about this compelling report, click here.