Singapore fraud, economic crimes hit new peak; those by external parties surge

Angela Tan

Published Mon, Mar 2, 2020 · 09:50 PM

Singapore

IT appears that traditional white collar crimes in Singapore are falling; but those involving tech-savvy external perpetrators are soaring.

PwC's biennial Global Economic Crime and Fraud Survey 2020 report on Singapore showed that despite the traditional safe domestic environment, half of the crimes in the city-state over the past two years were committed by external perpetrators, up from 31 per cent in a 2018 study. The proportion by internal perpetrators fell from 54 per cent in 2018 to 28 per cent in 2020.

Fraud and economic crime rates are at record highs, with 42 per cent of Singapore-based companies experiencing such crimes ove…