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Economic crime reported in Singapore 'at record high'

PwC survey finds 35% of outfits here reported suffering fraud; graft danger largely from abroad as firms expand overseas

Singapore

MORE than a third, or 35 per cent, of Singapore organisations reported suffering fraud in the last two years, a survey has found.

In a biennial report published by PwC, titled Global Economic Crime and Fraud Survey, this was the highest percentage of reported economic crime in Singapore since 2005, the first year PwC began collecting such data in Singapore.

Compared to the previous report published in 2016, the reported rate of fraud has also swung up from 22 per cent. This mirrors the global...

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