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Kroll Fraud Report

Kroll Fraud Report

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Published by Ian Makgill

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Published by: Ian Makgill on Apr 23, 2008
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10/14/2011

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Annual Edition 2007/2008
Global and local issuesdiscussed.Sector by sector analysis.Economist IntelligenceUnit overview.Prevention, detection& response.
Global Fraud Report 
 
Kroll commissioned The Economist Intelligence Unit to conduct aworldwide survey on fraud and its effect on business during 2007.A total of 892 senior executives took part in this survey. A third of therespondents were based in Europe, 32% in Asia-Pacific and 30% in Northand South America. Ten industries were covered, with no fewer than50 respondents drawn from each industry. The highest number of respondents came from the financial services industry (18%) followed byprofessional services (11%) and manufacturing (11%). Fully 38% of thecompanies polled had global annual revenues in excess of $1billion.This report brings together these survey results with the experienceand expertise of Kroll and a selection of its affiliates. It includes contentwritten by The Economist Intelligence Unit and other third parties.Kroll would like to thank The Economist Intelligence Unit, Dr. Paul Kielstraand all the authors for their contributions in producing this report.
Please note that some of the names and events have been changedin Kroll case studies to prevent identification of subjects and clients.While every effort has been taken to verify the accuracy of this information,neither The Economist Intelligence Unit Ltd., Kroll nor their affiliates can acceptany responsibility or liability for reliance by any person on this information.© 2007 The Economist Intelligence Unit and Kroll. All rights reserved.
 
Global Fraud Report 
INTRODUCTION
......................................................................2
CHAIRMAN’S VIEW
...............................................................3The sharp rocks under the water .............................................3
EIU OVERVIEW
........................................................................4The Economist Intelligence Unit overview ..............................4
FINANCIAL SERVICES
............................................................6Identity theft prevention: A looming requirement ................6Operation Malaya:Corruption in the Spanish real estate sector ...........................7Private equity, hedge funds and emerging markets:Playing risk for returns ..............................................................8Alternative securities:Opportunity for fraud and reward ..........................................9
PROFESSIONAL SERVICES
.................................................10Preventing risk in the people business ..................................10
MANUFACTURING
...............................................................11Procurement data can help fight fraud .................................11
HEALTHCARE, PHARMACEUTICALS& BIOTECHNOLOGY
...........................................................12Hijacking pharmaceutical brands:A study ......................................................................................12Counterfeiting in the pharmaceutical industry:Ten pieces of advice .................................................................13
TECHNOLOGY, MEDIA & TELECOMS
............................14Machinations in the Japanese entertainment industry .......14Old-fashioned fraud:A case study from China ..........................................................15
NATURAL RESOURCES
.......................................................16Challenging corruption in the energy sector ........................16
TRAVEL, LEISURE & TRANSPORTATION
.......................18Unique profile of the airline industry ....................................18The gambling industry and money laundering ....................19
RETAIL, WHOLESALE & DISTRIBUTION
........................20Commodity trading and shipping fraud ................................20Working out weak points can pay off ...................................21
CONSUMER
............................................................................22Brand integrity:Anti-counterfeiting, piracy and tainted goods .....................22
CONSTRUCTION
...................................................................24Audits, screening, and expertise help to build integrity .....24Transparency is the key tomonitoring the supply chain ...................................................25Red Flags:Behavior that may reveal problems .......................................26
FRAUD VULNERABILITY
....................................................27Where business is feeling the heat ........................................27
EMERGING MARKETS
........................................................28The investment herd stampedes into Lagos:Dangers of fraud in a booming market ................................28The impact of United States regulation onother countries .........................................................................29Culture, compliance and China...............................................30
FRAUD PREVENTION
..........................................................31A proactive strategy for operational risk ..............................31Human resources:The frontline in protecting your business .............................32Protecting your investments ...................................................33
FRAUD DETECTION
.............................................................34Up to the top: Financial statement fraud..............................34Protecting data sources from internal theft .........................35Making employee hotlines work ............................................36
FRAUD RESPONSE
...............................................................37Investigative tactics under scrutiny in the United States .....37Who is taking responsibility for losing sensitive data? ........37U.S. Government increases controls over contractors ..........38Profiting from stolen information .........................................39
KROLL CONTACTS
...............................................................40
KROLL SERVICES
..................................................................41
Kroll Global Fraud Report |
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